We keep hearing there are more foreclosures coming and it's just common sense that those bad loans will affect our marketplaces.
If you could see what percentage of these troubled assets your local banks or credit unions own relative to their capital and loan loss reserves and relative to the county as a whole, would you want to know?
The BANKTRACKER UPDATE was launched 16 September 2009 by The Investigative Reporting Workshop, a part of The American University School of Communication in cooperation with MSNBC.
The search tool these talented investigative journalists have built is intended to allow the public to see graphically the percentage of troubled assets owned by any bank or credit union in the United States. Pretty interesting stuff. According to the BankTracker Methodology, The FDIC requires banks and the NCUA requires credit unions to submit certain data quarterly and these are all public information. The workshop members have extracted and organized certain data points and organized them into this easy to use tool.
There are a few caveats and explanations about this data which I recommend you read before jumping to any conclusions about what this data shows but still, it is window into the operations of your bank that would have been tough to find on your own until this tool was developed!
