A study by the FDIC finds that more than one-fifth of black households are unbanked, using alternative financial services like money orders to meet banking needs.
(AJC) — The past few years haven’t been kind to Georgia’s banking industry, but the past few quarters, and the year to come, could prove to be the time when the industry started its slow turn for the better. The state’s lenders collectively have lost more than $5 billion since 2008, according to Federal Deposit […]
(LA Times) — For former insiders at some of the several hundred banks that collapsed during the financial crisis and in its aftermath, a day of reckoning has arrived. The Federal Deposit Insurance Corp. has told dozens of former bank officers and directors that it has drawn up lawsuits accusing them of misdeeds such as […]
(Daily Finance) — A change in the way banks are assessed for federal deposit insurance means that small community banks will pay dramatically less in fees beginning next year. But customers of big banks may still be better off than clients of their smaller rivals. The five-member board of the Federal Deposit Insurance Corp. voted […]
(AJC) — As the shakeout continues in Georgia’s banking industry, some bank names will soon change by choice and not because of a failure. Experts say Georgia banks are starting to look at buying other living banks instead of ones taken over by the Federal Deposit Insurance Corp. It will likely be a slow process, […]
(Atlanta Business Chronicle) — The first quarter of 2010 was a better one for Georgia’s banks, and the banking industry in general, according to data released Thursday by the Federal Deposit Insurance Corp. Georgia banks failed to be profitable as a whole for the fifth straight quarter, but more Peach State banks crossed into the black […]
(Medill Reports) — April 23, 2010: a day of infamy for Illinois banks. Seven more Illinois community banks were added to the Federal Deposit Insurance Corp.’s “failed bank” list that Friday, pushing the number of Illinois bank failures to 32 since the fall of 2007—second only to Georgia, 38. One that failed that day was Broadway […]
(HuffingtonPost.com) — Federal regulators are opposing a proposed $1.4 billion tax refund for JPMorgan Chase & Co. The tax benefit has become an issue a year and a half after the Wall Street titan galloped in to buy the assets of Washington Mutual Inc. when it collapsed under bad mortgage loans and became the biggest bank […]