Home Valley Bank, Cave Junction, Ore., was closed today by the Oregon Department of Consumer and Business Services, which appointed the Federal Deposit Insurance Corp. as receiver. The FDIC entered into a purchase and assumption agreement with South Valley Bank & Trust, Klamath Falls, Ore., to assume all of the...
SouthwestUSA Bank, Las Vegas was closed today by the Nevada Financial Institutions Division, which appointed the Federal Deposit Insurance Corp. as receiver. The FDIC entered into a purchase and assumption agreement with Plaza Bank, Irvine, Calif., to assume all of the deposits of SouthwestUSA Bank.
Sterling Bank, Lantana, Fla., was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corp. as receiver. The FDIC entered into a purchase and assumption agreement with IBERIABANK, Lafayette, La., to assume all of the deposits of Sterling Bank.
Crescent Bank and Trust Company, Jasper, Ga., was closed today by the Georgia Department of Banking & Finance, which appointed the Federal Deposit Insurance Corp. as receiver. The FDIC entered into a purchase and assumption agreement with Renasant Bank, Tupelo, Miss., to assume all of the deposits of Crescent Bank and...
Williamsburg First National Bank, Kingstree, S.C., was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corp. as receiver. The FDIC entered into a purchase and assumption agreement with First Citizens Bank and Trust Company, Inc., Columbia, S.C., to assume...
Thunder Bank, Sylvan Grove, Kan., was closed today by the Kansas Office of the State Bank Commissioner, which appointed the Federal Deposit Insurance Corp. as receiver. The FDIC entered into a purchase and assumption agreement with The Bennington State Bank, Salina, Kan., to assume all of the deposits of Thunder Bank.
Community Security Bank, New Prague, Minn., was closed today by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corp. as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Roundbank, Waseca, Minn., to assume all of the deposits of...
Urging the nation's credit unions to manage risks wisely, National Credit Union Administration Chairwoman Debbie Matz reminded an industry trade association that credit union losses will be the key factor in determining the fees required for its federal deposit insurance fund.
The Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law by President Barack Obama today permanently raised the maximum deposit insurance amount to $250,000. In addition, the Act made this increase retroactive to January 1, 2008.
The provision making the law retroactive means that the $250,000...
President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which, in part, permanently raises the current standard maximum deposit insurance amount to $250,000.
National Credit Union Administration Chairman Debbie Matz today joined a host of Congressional and Administration leaders as President Barack Obama signed the "Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010" into law. The ceremony, held at the Ronald Reagan Building in Washington, D.C., marked the...
The Federal Deposit Insurance Corp. has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Nebraska affected by severe storms, flooding and tornadoes.
The Federal Deposit Insurance Corp. has closed on a sale of 40 percent equity interest in a limited liability company created to hold approximately $898 million of primarily non-performing residential loan assets out of AmTrust Bank.
The Financial Crimes Enforcement Network has announced the findings of a months-long outreach campaign to money services businesses. The report is based on information gathered from FinCEN's outreach and site visits to MSBs.
Olde Cypress Community Bank, Clewiston, Florida, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.
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