Search Results for: Washington Mutual

Colonial BancGroup – Is There Any Reason For Not Closing This Failed Bank?

What Are The Regulators Waiting For? Recent events at Colonial BancGroup Inc present a picture of a bank beyond any hope of financial recovery. Colonial has been under FDIC and Alabama Banking Department oversight since June when it was obvious that Colonial could not survive without additional capital.  A possible merger or sale has been […]

FDIC Tells CIT Drop Dead

Sheila Bair Protecting Depositors Many of the biggest banking and financial concerns in the country still face potential collapse as loan defaults escalate rapidly.  Consider FDIC Said to Withhold CIT Debt Guarantees Due to Risk: The Federal Deposit Insurance Corp. is unwilling to guarantee CIT Group Inc.’s bond sales because the commercial lender’s credit quality […]

Five Largest Failed Banks – The Biggest One Is Not On The FDIC Failed Bank List

Five Biggest Bank Failures Ever As the US banking crisis grew steadily worse during 2008, the largest bank failure as of July 2008 (Indy Mac) ranked only number 3 on the list of the largest bank failures in history. 5 Biggest Bank Failures As Of July 2008 Institution Name                    Date                $Assets Billions Continental Illinois                 5/1984                  […]

Failed Bank List

When an FDIC insured bank fails, the FDIC will generally be appointed as the receiver. Generally, the FDIC will immediately solicit bids from other institutions interested in acquiring the bank. An acquisition can usually be arranged so that the failed bank will reopen as a branch of the acquiring bank before most customers realize what […]

FDIC Issues 72 Enforcement Actions Against Problem Banks In November

The FDIC issued a total of 72 enforcement actions against banks in November 2011, down slightly from 75 in October. Included in the November enforcement actions were 9 civil money penalties, 1 prompt corrective action and 13 consent orders.  The FDIC also terminated 37 consent orders and prompt corrective action directives due to either the […]

Counterfeit Cashier’s Checks Continue To Flood The Banking System

Don’t Be A Victim Of Financial Fraud Involving Cashier’s Checks The increasing number of counterfeit cashier’s checks flooding the country continues to cause major problems for both banks and consumers.   The FDIC is routinely issuing special alerts on 15 to 40 banks per month that report counterfeit checks bearing their name. Counterfeit cashier’s checks represent […]

4 Banks Collapse Bringing 2010 Total To 20, OneWest Makes Billions On Failed Bank Purchases

Banking Failures in Texas, California, Illinois and Florida Bring 2010 Total To 20 Regulators continued their ritual of Friday night bank closings, shuttering 4 more banks across the country.   The four failed banks had total assets of $4.2 billion and total deposits of $3.4 billion.  The cost to the FDIC Deposit Insurance Fund (DIF) […]