FDIC orders changes at six California banks - Savings - Checking - CDs Article - banks, fdic, financial crisis

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FDIC orders changes at six California banks

Article Submitted by: ktexas
Savings - Checking - CDs

Tags: Banks, Fdic, Financial crisis, Internet bank, Internet savings accounts, Online cds, Imperial capital bank.

Revealing the recession's rising toll on financial firms, the FDIC disclosed Friday that it had ordered six more California banks to clean up their acts in February after the agency examined their books and operations.

One consultant interviewed in the article gave the opinion that two-thirds of the state's banks will be operating under cease-and-desist orders or other regulatory actions by the end of 2009.

One of the banks receiving a cease-and-desist order was Imperial Capital Bank which offers internet accounts nationwide. Its delinquent loans more than quadrupled in the last year.

Submitted: Mar 28, 2009 Views: 180 Comments: 0 Likes: 1

View Article: http://www.latimes.com/business/la-fi-banks28-2009mar28,0,2513212.s...

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