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size or charter. The industry will be strongly relied
upon to lift the nation out of this current recession—which
is a colossal reversal of the prior recession
when banks were heavily criticized. There is
no better example of this than the $500 billion the
banks across this country delivered to more than
400 million businesses through the PPP process.
NJBankers has a long history of providing
a platform to share knowledge and resources
among our members and, during this crisis, has
proven to be a leader to rally the industry to assist
the business community, provide mortgage and
consumer loan forbearance relief and stepped
up funding for charitable initiatives. Although
the challenges that we face from COVID‐19 are
daunting, we can all take pride in being part of
Lakeland Bank has a branch in Sparta, New Jersey.
Getty Images/iStockphoto
an association—and an industry—that is playing a
vital role in supporting our employees, customers
and communities in these unprecedented times.
In past financial crises, people have mainly
looked to government for answers. While government
efforts remain essential, banks have an
opportunity—and a responsibility—to provide the
financial lifeline that is indispensable for recovery.
I am confident that New Jersey’s banks have the
capital strength, commitment to customer service
and community spirit to help lead the way
out of this crisis and back to economic vitality.
Diane C. Walsh is Executive Vice President of
Communications and Programs for the Commerce
and Industry Association of New Jersey.
When you need advice during these
unprecedented times, choose experience.
KBW is a leading advisor for financial
institutions in the NJ/NY area.
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June 2020
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May 2020