BancAlliance: Former Treasury Advisor Starting Company That Could Help Small Banks

In an effort to restore a crucial segment of the economy that was wounded in the financial crisis, a former government official is starting a company aimed at helping small banks.Lee Sachs, a former advisor in the Treasury department, is tea…

In an effort to restore a crucial segment of the economy that was wounded in the financial crisis, a former government official is starting a company aimed at helping small banks.

Lee Sachs, a former advisor in the Treasury department, is teaming with John Delaney, former chief executive of the bank CapitalSource, to launch a firm designed to allow small banks to make loans that otherwise would have been out of their league, the Wall Street Journal reports. By giving small banks opportunities to extend portions of big loans, the firm, called BancAlliance, will attempt to help revitalize the small bank industry.

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