NetBank is the biggest failure since the June 1993 failure of Western FSB in California. One business had $900K in deposits over the FDIC insured limit at NetBank. But all is not lost. They may be able to recover 50% of those uninsured deposits. NetBank wasn't the first internet-only bank to fail. The first was NextBank which failed in 2002.

 

Submitted: Oct 1, 2007    Views: 698    Comments: 2    Likes: 8   


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Sam Cass
Sam_Cass

Goods post. Sorry to see this happen.

Posted: Oct 1, 2007



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