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A new study shows the FDIC brought more lawsuits against bank executives this year than in 2010 and 2011 combined.
While hundreds of bank failures have drained the FDIC’s Deposit Insurance Fund over the past four years, members across the banking industry may have a reason to celebrate. Over the next five years, the FDIC estimates losses of $19 billion due to bank failures, according to a report released last week. Wait, is that the good news?
Financial markets are intensely focused on the events unfolding in Greece. Markets seem concerned that once again Greece will not be able to satisfy the austerity requirements their last loan required for further loans. If they are not able to satisfy those concerns, it is possible that the European countries who are considering extending the
While many believe that the nation’s largest banks are too big to fail, the Federal Deposit Insurance Corp., or FDIC, is sending a message to American financial giants: be ready for the unthinkable. Earlier this week, the FDIC approved a new rule that will require institutions with $50 billion or more in assets to regularly
For some community banks in Georgia, the past three years have marked a sour period in the Peach State. Over the Labor Day weekend, the Georgia Department of Banking and Finance closed two small institutions, Cumming-based Patriot Bank and Woodstock-based Creekside Bank. The two closings bring the tally for bank failures in Georgia to a
Here’s some news that will make financial executives and savings account holders cheer together: Fewer banks are set to fail this year. According to a quarterly report released by the FDIC, the list of problem banks is smaller for the first time in nearly five years. Problem banks are FDIC-insured institutions that lack the necessary
The first “bank” account I ever opened was at a credit union. I was only 15 at the time, co-signing the document with my mother, and I didn’t know the difference between a checking account and a savings account. In fact, I was even more perplexed with the credit union terminology of share draft and share
Say goodbye to five more banks, closed so far this month by the Federal Deposit Insurance Corp.: Premier Bank, $1.2 billion in assets, in Missouri. Security Savings Bank, $508 million, in Kansas. Wakulla Bank, $424 million, in Florida. Shoreline Bank, $104 million, in Washington State. Westbridge Bank and Trust Co., $91.5 million, also in Missouri.
