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Los Angeles skylineThe US banking industry is in pretty good shape heading into this economic dislocation, Timothy Sloan, former CEO of Wells Fargo and special advisor to Fortress Capital, said in a webinar last week hosted by Los Angeles-based George Smith Partners. The conversation included Don Griffith, former chairman and CEO at Grandpoint Bank and Pat Jackson, president and CEO of Sabal Capital Partners.

“The combination of good management decisions in the banks themselves and the regulatory changes that were made, meaning that the banking system has two-to-three times the amount of capital and liquidity,” explained Sloan in the conversation, differentiating this event from the previous recession during the financial crisis. “The system is in pretty good shape, and you can see that in the fact that we are in a difficult economic environment, and while the banks have decided to suspend share buybacks, they are continuing with dividends. That is not what we saw in the financial crisis.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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