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Noah Wilcox, a fourth-generation Grand Rapids banker, tells a Minnesota Senate committee Tuesday that most loans by small banks are good when they are made, even if they go bad later. Watching is Marshal Mackay of the Independent Community Bankers of Minnesota. (Don Davis/St. Paul Bureau)

71 Minnesota banks being closely watched

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ST. PAUL -- Regulators are working with 71 of 426 Minnesota-based banks to make sure they do not fail, but bank and credit union officials say they are not risking customers' money.

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"It's just a matter of prudent lending and risk management," Noah Wilcox Tuesday told the state Senate Commerce and Consumer Protection Committee.

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