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Money market mutual fund accounts no longer have the backing of the U.S. Treasury. Uncle Sam is betting that fund investors won’t care -- or won’t notice.
The Treasury is allowing its...
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 Illinois banks failed today: Strategic Capital Bank in Champaign and Citizens National Bank in Macomb. These were small banks compared to BankUnited that was seized yesterday.
Both...
On Tuesday both the House and the Senate passed an amended version of Bill S.896 which includes a provision to extend the temporary increase in deposit insurance from December 31, 2009 to December...
Three banks failed Friday bringing the total number of bank failures this year to 20. One bank that failed, FirstCity Bank in Georgia, was one of the rare failures in which the FDIC wasn't able to...
In September, the FDIC raised the limit on deposit insurance from $100,000 per person to $250,000 per person. But the increase is not permanent. And after December 31, 2009, FDIC is set to roll...