About
Greetings and thank you for visiting FindSafeBank.
On May 7, 2009, the Board of Governors of the Federal Reserve System released the findings of their report commonly referred to as the “stress test.” The report focused on 19 banks with $100 billion or more in assets. These large banks were examined to see if they had enough capital to tolerate a worsening in the economy. Out of the 19 banks studied, nine passed the test and are well capitalized. The remaining 10 banks failed the test. I was shocked to find one of my banks on the list that failed the “stress test.” After frantically searching the internet, I found scattered pieces of information. This inspired me to start FindSafeBank to centralize the information and help us make informed choices.
Personally, I have lived and worked in New England for 40 years. From the mid-70’s to 1990, I held research and marketing positions in large non-profit organizations. I also authored a book and educational pamphlets. After 15 years in the non-profit sector, I was ready for a change of pace. From that point, my work experience has included administrative positions in global accounting firms and Fortune 100 companies.
When the financial services industry started its negative spiral, I was working at Arthur Andersen, the once well-respected “Big Five” accounting firm. In 2002, Andersen was convicted of obstruction of justice related to its audits of Enron, the now defunct energy corporation. Although the verdict was eventually overturned by the Supreme Court, Andersen has not returned as a viable business. Working for a well-established firm that ended up on the corporate accounting scandal list is a stunning experience that I will never forget.
In many ways my experiences shaped my interest in researching and writing about topics of financial importance that affect our daily lives. While my goal is to provide you with accurate information and advice, please always remember to perform your own careful due diligence as well. I hope you find this blog to be a valuable and helpful resource.
Dana Truro
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