The FDIC is suing a former Super Bowl-winning quarterback for his poor play for the banking industry.
Despite the decrease in bank failures last year, a recent voter survey conducted by the Credit Union National Association shows that more consumers believe credit unions are safer than banks. When asked what type of institution was the most financially safe and sound, here’s how voters responded: Credit unions — 40 percent. Banks — 34
Here’s some good news for the financial industry: fewer banks failed in 2011. Last year, the final tally for bank failures did not break the triple-digit mark, a statistic that seems to indicate a positive trend for the banking industry. Here’s a breakdown of how the banking industry has fared over the past four years.
Though the number of annual bank failures has fallen since the height of the financial crisis, it’s still all-too common to see banks going belly up. With the Federal Deposit Insurance Corporation on the case banks don’t generally just collapse but instead the FDIC arranges to have another bank take over the failed bank’s deposits.
Is your bank safe and sound? Or should you be worried that your bank might fail and be taken over or sold off by the government? Few people actually lose money in bank failures, thanks to the protection of the Federal Deposit Insurance Corp. But a bank failure can be stressful as the bank will
The Federal Deposit Insurance Corp., or FDIC, has closed 86 U.S. banks this year, three in the last full week of June. The biggest and most costly failures naturally get the most attention. Here, in Los Angeles, one biggie that failed earlier this year was First Regional Bank, which cost the Deposit Insurance Fund a