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| Economy |
| Three more US banks closed down |
| 2010-11-07 |
| [Iran Press TV] US regulators have closed down three more banks in Caliphornia, Maryland and Washington, bringing the total number of closed American banks to 142 this year. Regulators closed Washington's Pierce Commercial Bank, Caliphornia's Western Commercial Bank, and Maryland's K Bank on Friday. Randallstown, Maryland-based K Bank, which had $500.1 million in deposits as of September 30, was closed on Friday, the Federal Deposit Insurance Corp. (FDIC) said in a statement on Saturday. Western Commercial Bank in Woodland Hills, Caliphornia, which had $101.1 million in deposits, was also closed on the same day, the FDIC said. Other financial institutes that are still on their feet have agreed to assume the failed banks' deposits and purchase their assets. The number of lenders shut down this year exceeds the total bank closures in 2009. About 300 banks have gone under since the start of the financial crisis in 2008. |
| Posted by:Fred |
| #2 |
| Posted by: Bright Pebbles 2010-11-07 09:11 |
| #1 |
| Posted by: Anonymoose 2010-11-07 08:48 |