FDIC Cease and Desist Orders The FDIC made public today a list of 20 banking institutions that were recently issued cease and desist orders from the FDIC, as follows: FINAL ORDERS ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. § 1818(b) (Cease-and-Desist) First State Bank, Flagstaff, AZ; FDIC-09-171b; Issued 5/1/09 Golden Security Bank, Rosemead, CA; FDIC-09-108b; Issued 5/8/09 [...]

FDIC Warns On Deceptive CD Rate Offers Due to the very low interest rate policies of the Federal Reserve, savers have been hammered into oblivion.  Short term treasury securities with a one year maturity offer rates barely above zero.  Banks are offering longer term CD rates that approach only a tiny 2% yield.  Under such circumstances, it is only normal that savers  searching [...]