IL HR0952

Urges Illinois residents and local governments to move their money from large multi-state "too big to fail" banks to small community banks to support responsible lending practices and the state's economy

Cites the $700 billion bank bailout and the fact that the nation's 4 largest banks collectively cut loans to businesses by more than $100 billion over 6 months despite federal intervention efforts

Notes that Bank of America and Citigroup each received $45 billion in bailout funds, while Wells Fargo and JP Morgan Chase each received $25 billion

States that Illinois-based community banks make more conservative investments, offer better risk-adjusted yields than large banks, and are more closely connected to local people and businesses

Asserts that community banks invest in job creation, strong neighborhoods, and help residents stay in their homes through a people-oriented approach to banking