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The FDIC announced two significant things today: it estimates that the cost of bank failures would rise to $100 billion over the next four years, and that it was going to pre-assess banks today for...
The two banking subsidiaries of Irwin Financial Corporation were closed today by regulators. Both of the subsidiaries had separate FDIC charters so this technically counts as two failed banks which...
A new report from the US Inspector General says that the Fed failed to adequately supervise two banks in California and Florida that eventually failed.
After months of news on Corus Bank's financial troubles, Corus Bank was finally closed today. Venture Bank in Washington State was also closed. Both of these banks had been offering online...
Five banks failed on Friday bringing the yearly total of failed banks to 89. Four of the five were typical closures in which the FDIC was able to find buyers which assumed all deposits, even...
The FDIC hasn't been doing a good job at keeping secret pending closures of large banks. Before Colonial Bank was closed last week, news reports of the pending closure and takeover by BB&T were...
Two small Florida banks and one Oregon bank were closed today by regulators. That makes a total of 72 bank failures this year. These closures were similar to most of this year's closures. The FDIC...
This was another busy Friday for the FDIC with five bank failures. As has been common this year, the FDIC arranged for other banks to acquire the failed banks and to assume all deposits even those...
Seven banks failed today. The small New York bank, Waterford Village Bank, was the first New York State bank to fail since 2004. The other six banks were in Georgia. This makes a total of 16 banks...
It was another busy Friday for the FDIC with four bank closures: one in Georgia, one in South Dakota and two banks in California. The Georgia and South Dakota banks were little-known, small banks....
The inspectors general at the U.S. Treasury and the Federal Deposit Insurance Corp. (FDIC) have both issued reports saying that bank failures surged because regulators in some cases didn't step in...
Yesterday was one of the rare Fridays this year in which we didn't have a bank failure. However, the FDIC did release its list of April cease-and-desist orders. This LA Times article has a good...