Wisconsin Banking Update
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Letters of Credit Debated in Milwaukee
Posted on February 27th, 2010 No commentsThe Milwaukee Journal Sentinel covered a meeting of the Milwaukee Common Council’s Zoning, Neighborhoods and Development Committee, in which an employee of a city office said that “larger (financial) institutions are trying to back out of letters of credit, whether it’s a solid project or not.” But one bank says that it agreed to renew the letter of credit for up to five years, but at a higher rate. Read more.