Articles

A CD I opened with Ally Bank a year ago matured a few days ago. I called to cash it out, and was very pleasantly surprised by their response.

Corus Bankshares, the parent company of Corus Bank may be taken over by an investment consortium, with the financial support of the FDIC. Corus has long offered competitive CD rates and currently has rates that are at the top of the BestCashCow rate charts. The bank may be seized by the FDIC as soon as August 6.

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported a net loss of $26.2 billion in the fourth quarter of 2008, a decline of $27.8 billion from the $575 million that the industry earned in the fourth quarter of 2007 and the first quarterly loss since 1990.

In a rather strange move, Emigrant Bank, the parent company of Emigrant Direct has launched another online direct brand, DollarSavingsDirect. DollarSavings differs slightly from Emigrant Direct and currently has a higher rate.

PASADENA, Calif., Aug 01, 2008 (BUSINESS WIRE) -- On Friday, August 1, 2008, IndyMac Bancorp, the former holding company of IndyMac Bank filed for bankruptcy protection under the U.S. Bankruptcy Code (Title 11, Chapter 7 U.S.C). This action has no effect on the operations of IndyMac Federal Bank, FSB, which came into existence on July 11, 2008, when IndyMac Bank was removed from its holding company, IndyMac Bancorp, and IndyMac Federal Bank was placed into conservatorship by the Federal Deposit Insurance Corporation (FDIC). Other than a similarity of name, IndyMac Federal Bank has no relationship, nor does it share any employees, with IndyMac Bancorp.