As of June 2010, the Federal Deposit Insurance Corporation (FDIC) has reported that commercial banks and savings institutions under its protective wings have collected an aggregate profit of $21.6 billion, leading to an overall profit of $26 billion following the $4.4 billion net loss registered in the prior corresponding year. The FDIC said that while the numbers reflected the biggest surge Read full article »
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FDIC Reports Of $21.6 Billion Increase On Insured Institutions In The June Quarter As Banking Sector Slowly Regains Financial Muscle
category: Commercial, Featured
FDIC Shuts Down Failing Chicago Bank As 7 Other Banks Across The County Succumbs To Loan Defaults And Recession
The Federal Deposit Insurance Corp (FDIC) seized control of Chicago-based ShoreBank on Friday last week following months of flirting with financial difficulties, adding that Urban Partnership Bank agreed to absorb the troubled bank’s deposits and assets, which were last reported at $1.54 billion and $2.16 billion respectively. The bank regulator also ordered the shutting down of seven more banks on the Read full article »
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