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Rewards checking accounts, accounts that pay above-market interest in return for certain customer actions are coming under government scrutiny. Several banks have been forced by the FDIC to lower...
FDIC Chairman Sheila Bair went on YouTube and posted this video on the FDIC site discussing the health of the agency and the banking system. The video is posted below.
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 FDIC, which has needed to step in to protect depositors at 95 banks so far this year, has a plan to make up its deposit shortfall and prepare for the inevitable failures to come. It is going...
Article | Sep 28, 2009 | Views: 33 | Comments: 0
Tags: fdic, too big to fail
The closing of New Frontier Bank, a Colorado bank has raised questions about whether the FDIC and regulators were vigilant enough in monitoring the bank and its soundness and safety.
The FDIC...
There have been 80+ bank failures already this year, and the FDIC is expecting another 150 to 200. It has already made one special assessment against all financial institutions and will do another...
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...
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...
Some worrying commentary from FDIC chairman Sheila Bair indicating that the economy and housing market are still a long way from recovered and that the potential run up in financial shares of late...
The FDIC reported today that the situation is still grim in the nation's banking sector. The number of problem banks rose from 305 to 416 and the FDIC's deposit insurance fund fell to $10 billion...
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...