Jim Smith, CEO of Webster Bank, is doing everything he can to keep people in their homes, much like George Bailey, the character played by Jimmy Stewart in the classic Christmas film “It’s a Wonderful Life”. Smith told his story on Fox and Friends, saying, “My dad founded the bank in 1935 to help people buy and build their homes. There we were in 2008, and clearly something was happening and it turned out to be not only a financial crisis, but an economic downturn.”
He said that the bank decided to put a moratorium on any kind of foreclosures until they worked out a loan modification program. Through this, they were able to keep over 1200 families in their homes.