FDIC Issues Cease And Desist Orders To 20 Problem Banks – Why Are These Banks Still Open?

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; […]

Beware The Deceptively High CD Rate Offers

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 […]