banks

photo courtesy State of Tenn.

MURFREESBORO, Tenn. (AP/WMOT) — Tennessee will receive 146 million dollars as part of a settlement with the nation’s five largest mortgage lenders over foreclosure abuses.

Federal officials say the lenders will pony up a total of $25 billion to be shared among 49 states. Oklahoma is the lone holdout.

No Bank Closings Good News for Tennessee

Nov 29, 2011

MURFREESBORO, Tenn. (WMOT)  --  Here’s just one indication that Tennessee’s recession hasn’t been as deep or as damaging as what other southern states have experienced.

Neighboring states have suffered a significant number of bank failures in recent months, while Tennessee hasn’t had a bank close in nearly a decade.

Georgia has had 27 banks fail so far this year. Alabama and North Carolina had two bank closings each in 2011. Mississippi and Arkansas have both closed a single bank in recent months.  A Kentucky bank failed last year.