- n a federally sponsored corporation that insures accounts in national banks and other qualified institutions
News & Articles
- FDIC seizes another Capitol Bancorp bank
Between May 10-14, state regulators seized CBC-owned banks in Asheville, N.C., Valdosta, Ga., and Phoenix, Ariz. In each case, the FDIC arranged for other banks to take over the failed banks.
June 10, 2013 - Eaton Rapids Community News
- FDIC suing ex-TierOne Bank officials
The FDIC is suing eight former officers or directors of Lincoln’s TierOne Bank for at least $40 million, saying they improperly approved or recommended eight bad loans for real estate developments in Las Vegas between 2006...
June 7, 2013 - Omaha World-Herald
- FDIC closes Nevada's 1st Commerce Bank
LOS ANGELES (MarketWatch) -- The Federal Deposit Insurance Corporation (FDIC) said late Thursday it had closed 1st Commerce Bank of North Las Vegas, Nev. All deposits held by 1st Commerce Bank have been purchased by Irvine, Calif.-based Plaza Bank, with the deposits still covered under FDIC insurance, the government agency said. Market Pulse Stories are Rapid-fire, short news bursts on stocks ...
June 6, 2013 - Market Watch
- Henry Paulson in CEP News
I commend the action taken by Chairman Bair and the FDIC today to facilitate the sale of Wachovia Bank to Citigroup in an orderly fashion to mitigate potential market disruptions,said Paulson. "The FDIC's actions help to mitigate potential...
- Daniel in Independent
Indymac's takeover by the FDIC is one of many to come,predicted Daniel Alpert, an investment banker at Westwood Capital in New York.
- Barack Obama in Reuters
If you look at how the FDIC has handled a situation like IndyBank for example, it actually does these kinds of resolutions effectively when it's got the tools to do it. We don't have the tools right now,Obama said.