Tag:
Bank Failure
Latest Headlines
Latest Headlines
Execs of faith-based bank, Integrity, accused of fraud
A shocking story of a bank failure: Federal prosecutors have indicted two executives of a failed bank in Georgia--Douglas Ballard and Joseph Todd Foster--accusing them of conspiracy, insider trading
WaMu executives knew about fraud
Looks like it's Washington Mutual's ( WaMu news) turn in the hot seat. Ahead of scheduled hearings, the press was abuzz with the leaked news that top executives at the disgraced bank--which became the largest bank failure in history--knew about rampant fraud in the banks' home lending arena, an
How many more banks will fail?
The solvency of big banks has lapsed into a non-issue, thanks to the massive federal effort that caused so much controversy. But at the small bank level, we're going to see a lot more carnage ( bank failure news).
The number of problem U.S. banks, as defined by the Federal Deposit Insurance
More bank failures coming
So far this year, the Federal Deposit Insurance Corp. has shut down 92 banks. That compares with 25 banks last year. Business Week notes that this might be seen as surprisingly few closures. During the last banking crisis, 381 banks were seized in 1990, 268 in 1991, and 179 in 1992. But the cr
Still paying for the sins of WaMu
Fortune takes a look back at the implosion of Washington Mutual, calling it the "largest-ever U.S. bank failure." Recall that WaMu basically ran out of dough after business customers withdrew their uninsured deposits at a scary rate. There was real fear that the dominoes would fall once Lehman
Whitney: "Early on in bank closures"
Meredith Whitney predicts 300 banks will fail in 2009. Thus far, 81 banks have failed in 2009 (View our special report on the U.S. banking collapse here .) Watch the full interview with Bloomberg below.
Related Articles: How many banks will fail? Pain ahead for regional
How many banks will fail?
Most people now assume that the worst of the crisis has passed for big, systemically significant banks. But we cannot say the same for smaller banks, some of which are actually pretty big. So far this year, 69 banks have failed. That number can only rise. More than 300 banks are on the troubled ba
Downey Savings and Loan/PFF Bank and Trust
Who: Downey Savings and Loan Association and PFF Bank and Trust
What: 21 st and 22 nd bank failures of 2008 (Nov. 21, 2008)
Where: Newport Beach, California and Pomona, California
Why: Inadequate capital.
Fast Facts: U.S. Bank, National Association of Minn
The Community Bank
Who: The Community Bank
What: 20 th bank failure of 2008 (Nov. 21, 2008)
Where: Loganville, Georgia
Why: Involved in construction and development lending.
Fast Facts: Bank of Essex in Tappahannock, Virginia assumed all deposits from The Community Bank; as of
Security Pacific Bank
Who: Security Pacific Bank
What: 19 th bank failure of 2008 (Nov. 7, 2008)
Where: Los Angeles, California
Why: Inadequate capital.
Fast Facts: Pacific Western Bank of Los Angeles assumed all deposits from Security Pacific Bank; as of Oct. 17, 2008, Security P
