The FDIC posted today the list of enforcement actions taken in January 2012 against problem banks. A total of 42 enforcements actions were taken in January compared to 57 in December. Enforcement actions for January included 13 consent orders, 11 civil money penalties, 5 prompt corrective actions and 7 orders to terminate consent orders and […]
Problem Bank List At 20 Year High As Regulators Let Zombie Banks Remain Open
The number of banks on the confidential FDIC Problem Bank List is at a 20 year high. As of September 30, 2011, there were 844 institutions on the Problem Bank List, the largest number since 1992 when the total was 1,066. Since the beginning of the financial crisis in 2008, a total of 417 banks […]
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 […]
Four Banks Closed In Georgia, Florida and Colorado – Losses Now Total $7 Billion
The continued decline in real estate values and aggressive lending during the real estate boom continue to haunt the banking industry. Regulators closed four banks in three states this week bringing the total banking failures for the year to 84. Two banks were closed in Georgia which now accounts for 26% of all U.S. banking […]
FDIC Forecasts $19 Billion In Losses On Banking Failures – Why The Losses Will Be Five Times Larger
The FDIC today released an update on expected losses for banking failures through 2015. For the five year period 2011 through 2015 the FDIC is forecasting total losses from banking failures of $19 billion. Total losses from banking failures during 2010 were $23 billion compared to $6.4 billion in 2011 year to date losses. A […]
Is It Safe?
Should you keep your money in an FDIC insured problem bank? Or are you asking for trouble? As of the latest report released by the FDIC there were 416 problem banks at June 30, 2009, up from 117 the previous year and up from 305 on March 31, 2009. Total assets held by the […]