Bankers Association President says money in banks is safe

PIERRE, S.D. (WNAX) – The Federal Reserve has moved hundreds of billions of dollars into the banking system as a show of confidence.

South Dakota Bankers Association President Curt Everson says while appreciated, it wasn’t a critical issue.

Everson says money in American banks is safe.

Everson says the pandemic and stock market drop is causing some anxiety.

Everson says many banks in the state are working long hours to help businesses apply and receive federal dollars for the paycheck protection program.