Regulators shut down banks in Illinois, Minnesota and Utah on Friday, bringing to four the number of bank failures so far in 2010, following 140 closures last year amid the weak economy and mounting loan defaults.
The Federal Deposit Insurance Corp. took over Barnes Banking Co., based in Kaysville, Utah, with $827.8 million in assets and [...]
Posts Tagged ‘fdic’
Banks in Ill., Minn., Utah are shuttered
January 16th, 2010 by Financial Writer
Tags: banks shuttered, fdic, financial institutions, illinois, minnesota, utah
more...Banks earn $2.8B in 3Q; insurance fund in the red
November 24th, 2009 by Financial Writer
The apparent end of the recession and stabilizing financial markets have not cured the banking industry, the Federal Deposit Insurance Corp. said Tuesday.
Banks earned $2.8 billion in the third quarter, but loan balances plummeted and the fund that insures their deposits was $8.2 billion in the red. Souring loans continued to hurt bank balance sheets, [...]
Tags: banking industry, banks, fdic, financial markets, loans outstanding, recession
Dodd to Propose Removing Fed, FDIC Bank Supervision
November 10th, 2009 by Financial Writer
Senator Christopher Dodd will propose creating a single U.S. regulator that would strip the Federal Reserve and Federal Deposit Insurance Corp. of bank- supervision authority, said a person familiar with the matter.
Dodd, chairman of the Senate Banking Committee, would eliminate the Office of the Comptroller of the Currency and the Office of Thrift Supervision and [...]
Tags: bank supervision, banking committee, christopher dodd, fdic, fed, Federal Reserve, financial