The number of banks at risk of failing fell in the fourth quarter, marking the third straight quarterly decline, according to a government report issued Tuesday.
The Federal Deposit Insurance Corp. is preparing to settle with three former executives who ran Washington Mutual, the biggest bank failure in U.S. history, for the return of $64 million worth of golden parachutes, bonuses and retirement funds.
Jeff Cappelletti had his faith in the financial markets shaken in 2008, when he couldn't extricate about $1 million of his firm's overnight cash from the Reserve Fund, the world's largest money-market mutual fund.
The number of banks at risk of failing fell in the third quarter, marking the second straight quarterly decline, according to a government report issued Tuesday.
So you've had it with the hidden fees, the monthly minimums and the sky-high interest rates. Like thousands of other Americans in the past few weeks, you want to ditch your bank.
A conservative critic of "too big to fail" banks has been tapped for a key position to do something about them.
The board of the Federal Deposit Insurance Corp. on Tuesday approved a draft version of a rule aimed at cracking down on big banks that make risky bets with their own money or own hedge funds.
Even with Warren Buffett in its corner, Bank of America's fight to get past the mortgage bust is far from over.
Washington leaders said "never again" to "too big to fail," vowing that the next time, they'd put a troubled big bank out of its misery.
The chairman of the FDIC is not usually a household name. But the last few years have been anything but usual.
Bank lending to small businesses fell $15 billion in the first quarter of this year, according to a report released this week from the U.S. Small Business Administration's Office of Advocacy.
The troubled commercial real estate is slowly killing off the nation's small and regional banks, and industry experts fear the worst is yet to come.
Bank regulators closed seven banks Friday, bringing the total of number of bank failures for the year to 139, the Federal Deposit Insurance Corporation said.
The Federal Reserve has 50 new rules to write, the Federal Deposit Insurance Corp. has 44 new rules to write. The Securities and Exchange Commission has 100 rules and 20 studies on its plate. And Treasury has two new agencies and an oversight council to set up.
Global officials meeting in Switzerland Sunday announced new guidelines to strengthen the financial system by forcing banks to set aside more capital.
The government's list of troubled banks hit its highest level since 1993 during the second quarter, although the pace of growth continued to slow, according to a government report released Tuesday.
A Minnesota bank was closed by government regulators Friday, the Federal Deposit Insurance Corp. said, bringing the total number of failed banks this year past 100.
Free checking at your bank may be a thing of the past soon. If you're tired of changing rules, higher fees and stricter requirements, you don't have to take it anymore.
When you think of the words "safe income," a savings account probably doesn't spring to mind.
The government's list of troubled banks climbed to its highest level since 1992 in the first quarter, although the pace of growth moderated, according to a government report published Thursday.
As legislators continue to trade loud barbs over the details of the bill that seeks to overhaul our financial system, we risk losing a crucial aspect of reform in the din.
Federal banking regulators voted Tuesday to extend a program that offers U.S. businesses unlimited insurance coverage on their bank accounts.
The closures of Statewide Bank in Louisiana and Florida's Old Southern Bank brought the number of bank failures this year to 30, according to the Federal Deposit Insurance Corp.
The rot in the U.S. banking system threatens to warp an already weak economic recovery.
More than 700 banks, or nearly one out of every 11, are at risk of going under, according to a government report published Tuesday.
Regulators shuttered four banks Friday night, bringing the tally of institutions that have gone under so far this year to 20.
Regulators shuttered a Minnesota bank on Friday night, for the 16th failure of 2010.
Regulators shuttered six banks on Friday, notching up 15 failed banks in the first month of in 2010.
Two small banks failed Friday night, making them the second and third banks to close in 2010.
The nation's top banking regulator is considering a new rule which could require lenders to pony up if they rely on potentially risky pay practices.
The first bank to fail in 2010 is Horizon Bank, based in Bellingham, Washington.
Banks in six U.S. states were closed Friday, bringing the total number of failed banks this year to 140, at a cost of over $1 billion to the Federal Deposit Insurance Corporation.
Regulators closed regional banks in three U.S. states Friday, bringing the total number of failed banks this year to 133, the Federal Deposit Insurance Corp. said.
The nation's tally of 2009 bank casualties hit 130 Friday when regulators shuttered a large Ohio bank, an Illinois bank, a Virginia bank and three small Georgia banks.
In an ominous sign for the recovery, bank loans are drying up faster than ever.
Despite the frenetic pace of bank failures this year, 552 lenders are still at risk of going under, according to a government report published Tuesday.
State regulators shuttered Commerce Bank of Southwest Florida in Fort Myers, Fla., Friday night, bringing the 2009 national tally to 124.
Two Florida banks and one in California failed Friday night, bring the 2009 national tally to 123. Regulators closed Century Bank, Federal Savings Bank in Sarasota, Fla., Orion Bank in Naples, Fla., and Pacific Coast National Bank in San Clemente, Calif.
Five banks failed late Friday, bringing the 2009 tally to 120.
The tally of bank failures easily broke past the No. 100 milestone on Friday night, with regulators announcing the year's 106th closure.
The nation's tally of 2009 bank casualties hit 99 Friday night when state regulators closed San Joaquin Bank, based in Bakersfield, Calif. This was the tenth bank to fail in that state.
The government insurance fund designed to protect consumer bank deposits will likely stay in the red through 2012, Federal Deposit Insurance Corp. chief Sheila Bair said Wednesday.
Here's another sign of a sickly banking sector: a flurry of letters urging banks to raise money -- and fast.
The Federal Deposit Insurance Corporation needs to add prevention to its stock of cures.
Three regional banks were closed by regulators on Friday evening, bringing the 2009 tally to 98.
The banking bust is getting mighty costly.
Atlanta-based Georgian Bank was closed by state regulators Friday, according to the Federal Deposit Insurance Corporation, becoming the 95th to fail in the nation this year.
What's harder than running a bank these days?
One of the fundamental tenets of a free market is that in an auction the rules of the game should not give one bidder a fundamental advantage over another bidder. Sadly, that may not have been the case last month when the FDIC oversaw the sale of Texas-based Guaranty Bank. On August 21, Sheila Bair, the chair of the FDIC, declared Spain's second-largest bank -- Banco Bilbao Vizcaya Argentaria SA -- the winner of a spirited auction to buy Guaranty Bank instead of a consortium of U.S. investors including Blackstone Group and TPG.
Question: I just heard that the federal government is no longer insuring money market accounts for their $1 per share value. Is that correct? --Terry, Las Vegas, Nevada
Regulators closed subsidiaries of Irwin Financial Corporation in Kentucky and Indiana Friday, bringing the total number of bank failures this year to 94, according to the Federal Deposit Insurance Corp.
Regulators closed one large bank in Illinois on Friday in one of the biggest collapses of the year, while two other smaller failures pushed the 2009 total to 92.
Some unemployed homeowners at risk for foreclosure could get a temporary break on their mortgage payments under a plan being pushed by the FDIC.
Regional banks in Maryland, Minnesota and California were closed by regulators Friday, bringing the total number of failed banks this year to 84, the Federal Deposit Insurance Corporation said.
The number of institutions on the government's so-called "problem bank" list surpassed 400 in the latest quarter, climbing to its highest level in 15 years, according to a government report published Thursday.
Regulators cleaning up after bank failures showed Wednesday how far they're willing to reach out for help.
Washington gets another chance to kick the bailout habit this week, when regulators consider the fate of a subsidy that has been good to smaller banks.
Facing mounting bank failures, regulators are putting a new twist on a familiar idea: splitting a bank's good assets from the bad ones.
Troubled Colonial BancGroup will be bought by rival BB&T Friday, the government said after state regulators closed the bank whose assets had been frozen by a federal judge.
Shares of BB&T Corp. shot higher Friday after reports that it might be scooping up the remains of Colonial BancGroup.
As yet another bank faces collapse, consumers are worried about their cash.
Three regional banks failed Friday, bringing the 2009 tally to 72, the Federal Deposit Insurance Corporation said.
The economy may have pulled out of its plunge, but you'd never know by a look at many big banks.
Lawmakers are quickly learning that "too big to fail" may be too complex to legislate away.
Cleaning up after bank failures is one chore you won't hear bankers complaining about.
The government's economic recovery efforts have brought many new and unfamiliar financial terms into the conversation. Here's a list of some we think are vital to understanding the recession and the government's attempts to fix it:
State regulators shut down seven regional banks Friday, the Federal Deposit Insurance Corporation said, bringing the total number of banks to fail in the United States to 64 this year.
State regulators shut down four banks Friday, the Federal Deposit Insurance Corporation said.
Bank of Wyoming was closed Friday by state regulators, bringing the total number of failed banks this year to 53, the Federal Deposit Insurance Corporation said.
Seven banks were shut down by authorities Thursday, pushing the tally of failed banks for 2009 to 52, more than doubling the failures in 2008.
When New Frontier Bank failed in April, regulators failed to find a buyer, forcing the FDIC to absorb the roughly $2 billion in assets that were once owned by the Colorado-based lender.
Local banks in Georgia, Minnesota and California were closed Friday by state regulators, bringing the total number of failed banks this year to 45, according to the Federal Deposit Insurance Corporation.
Regional banks in North Carolina, Kansas and Georgia were closed by state regulators Friday, bringing the total number of failed banks this year to 40, the Federal Deposit Insurance Corporation said.
Bank of Lincolnwood was shuttered by Illinois regulators Friday, bringing the number of failed banks this year to 37 and costing the Federal Federal Deposit Insurance Corp.'s deposit insurance fund $83 million.
Investors often demand more disclosure on mergers and acquisitions. But taxpayers -- who have billions at stake in government bailouts of financial firms -- are justified in feeling envious of the information provided when privately held, publicly listed companies do deals.
The Federal Deposit Insurance Corp. wants to move around top management at Citigroup, putting Chief Executive Vikram Pandit in a precarious position, according to a report published Friday.
Regulators shelved a controversial plan that aimed to cleanse banks' balance sheets of toxic assets.
The government's list of troubled banks swelled in the first quarter, climbing to its highest level in nearly 15 years, regulators said Wednesday.
Maybe the so-called "zombie" banks didn't die after all.
Strategic Capital Bank and Citizens National Bank failed on Friday, bringing the total bank failures for 2009 to 36, up from 25 in all of 2008.
Don't look now, but the nation's banking industry is about to get a whole lot smaller.
Big banks aren't the only ones with powerful lobbyists that know how to pull strings in Washington.
Banks lining up to repay bailout funds are easing away from the Federal Deposit Insurance Corp.'s debt insurance plan, a program that helped banks through last fall's financial storm -- and has made money for the FDIC to boot.
Next week the government is expected to reveal the results of its all-important bank stress-tests. Investors and customers alike will be scrutinizing these numbers to make sure their bank has the wherewithal to survive in this tough economic environment.
Federal Deposit Insurance Corp. chief Sheila Bair reiterated calls for creating a system that would allow regulators to dismantle a large financial institution.
First Bank of Idaho became the fourth U.S. bank to fail Friday, raising the 2009 total to 29 -- four more than the 25 that failed all of last year, the government said.
Top banking regulators offered a detailed view Friday into the workings of an Obama administration program aimed at assessing the health of the nation's largest banks.
Two more banks failed Friday bringing the tally to 25 in 2009, according to the government.
Two banks failed Friday, bringing the 2009 tally to 23, according to the government.
Question: I have $12,000 I want to invest for the short term. Banks are offering 2% annual percentage yields at best for three-month CDs, but I've seen an ad by a financial institution in my area for a three-month CD that pays 8%. This firm isn't a bank, but it says the CD is FDIC insured. Are you familiar with this type of CD? Do you think it's safe? --David Ankley, Leesburg, Florida
Bank regulators closed a Georgia-based bank Friday, marking the 21st bank to be shuttered this year, according to a statement from the FDIC.
Sheila Bair's band of bank watchdogs is about to get even busier.
Now that even the biggest banks are battling for survival, traditionally safe investments suddenly look fallible.
The Obama administration on Monday will formally unveil a program to help banks clean up their books by subsidizing private investors' purchase of troubled assets.
Bank regulators closed three banks Friday, marking the 18th, 19th and 20th failures this year.
The Federal Deposit Insurance Corp. wants Congress to broaden its power to protect consumers from banks that are engaged in criminal acts, according to testimony of an FDIC official Friday.
updated: Tue Mar 10 2009 07:47:00
CNN's Campbell Brown explains how money is safe in an FDIC insured bank despite the volatile economy.
As we focus on your money this week, we think it's important to remember one area that should not be a source of panic, the Federal Deposit Insurance Corporation, better known as the FDIC.
State bank regulators closed Freedom Bank of Georgia Friday, making it the 17th bank to fail this year.
State bank regulators closed two more banks on Friday, the 15th and 16th banks to fail this year, as the worsening recession pulled more regional banks underwater.
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