Maine Banking, Community Bank News

MACB joined the other five New England states in a letter to Senate Banking Committee Chairman Dodd urging him to rework the bill for Maine’s twenty mutual banks.

Under the current version, no viable federal, mutual charter option exists meaning that a dual banking system for state-chartered institutions will cease to exist and the future regulatory structure for federal thrifts is unclear. Both situations make navigating the future most difficult. We look forward to a response after the Easter break.

 Read the letter.