New England

Fed’s Rosengren: Smaller Banks at Risk from Housing Fallout 

The ever-widening net of the U.S. housing crunch was cast a little bit wider Thursday evening by Boston Fed president Eric Rosengren, who said that continued weakness in housing likely would strain many of the nation’s smaller banks. Community banks have so far weathered the credit storm better than their larger counterparts, thanks in part to an aversion to both subprime and securitized mortgage lending.