Posts tagged as:

FDIC

Banks at Risk of Failure: 702

February 23, 2010

According to the FDIC, over 700 banks are currently at risk of going under, a huge jump over the last three years, and a bit of a shocker given the size of the federal stimulus. The FDIC has already shuttered 20 banks this year, and there is no sign that things will improve in the [...]

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Wachovia goes under, bought up by Citigroup

September 29, 2008

In a deal brokered by the feds, Citigroup has agreed to acquire the majority of Wachovia, the latest bank to fail. From CNN:
Citigroup will acquire the banking operations of Wachovia for $2.2 billion in an all-stock deal, following much speculation over the weekend about the fate of the nation’s fourth-largest bank.
Citigroup buys Wachovia bank assets [...]

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Bailout’s dry run for troubled borrowers?

September 25, 2008

“The FDIC centers its approach on reducing monthly payments (principal, interest, taxes and insurance) to 38 percent of household income. It works with the first mortgage and with people who are delinquent or approaching a higher interest rate. It’s not charging fees or late charges.
On average, borrowers with modified loans are saving $430 a month, [...]

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If Enough Banks Fail, The FDIC Could Run Out Of Money

August 27, 2008

If Enough Banks Fail, The FDIC Could Run Out Of Money | Consumerist

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Two banks fail, 90 on FDIC problem list

July 28, 2008

If anyone were still in doubt as to whether or not the United States economy is in recession, the FDIC’s problem list now includes 90 banks at risk of failure. This is not a large number, since there are about 8,500 banks in the country, but it is up from 76 last year.
Historically, only about [...]

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How much did deregulation contribute to the recession (economic slowdown, whatever)

April 28, 2008

Deregulation refers to the point at which the U.S. government threw up its hands and said “all right banks, power companies, airlines, etc., do whatever you want!” and the deregulated industries had a big party. Eminent jurist and economic theorist Richard Posner says that might have been a mistake: “a tighter ceiling should be placed [...]

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Alternatives to payday loans: small dollar loans

February 7, 2008

In what is hopefully the start of something, the Federal Deposit Insurance Corporation (FDIC) announced the selection of 30 banks to participate in a two-year pilot project to help identify best practices in affordable small-dollar loan programs that can be replicated by financial institutions.
“Our goal is to identify small-dollar loan programs that are profitable for [...]

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