Archive for July, 2010
Saturday, July 31st, 2010
Family First Federal Credit Union of Orem, Utah, was closed by NCUA, just another casualty crisis.
NCUA assumed control of operations at Family First Federal Credit Union of Orem, Utah. NCUA’s goal is to continue credit union service to the members and ensure safe and sound credit union operations.
Service to Family First ...
Posted in CREDIT UNION FAILURES | No Comments »
Saturday, July 31st, 2010
Certified Federal Credit Union, Commerce , California, became the 12th federally insured credit union in the nation to be closed in 2010, when it was placed placed into conservatorship by federal regulators. This isn't a failure, but these conservatorships often lead to liquidations.
Certified Federal Credit Union in the City of Commerce was ...
Posted in CREDIT UNION CONSERVATORSHIPS | No Comments »
Friday, July 30th, 2010
LibertyBank, Eugene, Oregon, becomes the 108th FDIC causality of 2010 at an estimated cost to the Deposit Insurance Fund (DIF) of $115.3 million.
LibertyBank, Eugene, Oregon, was closed today by the Oregon Division of Finance and Corporate Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, July 30th, 2010
The Cowlitz Bank, Longview, Washington, becomes the 107th FDIC causality of 2010 at an estimated cost to the Deposit Insurance Fund (DIF) of $68.9 million.
The Cowlitz Bank, Longview, Washington, was closed today by the Washington Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, July 30th, 2010
Coastal Community Bank, Panama City Beach, Florida, was one of two banks shut down by the FDIC to bring the total closed nation wide this year to 106. The agency estimates that the cost to the Deposit Insurance Fund (DIF) will be $94.5 million for Coastal Community Bank.
Bayside Savings Bank, ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, July 30th, 2010
Bayside Savings Bank, Port Saint Joe, Florida, was one of two banks shut down by the FDIC to bring the total closed nation wide this year to 106. The agency estimates that the cost to the Deposit Insurance Fund (DIF) will be $16.2 million for Bayside Savings Bank and $94.5 ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, July 30th, 2010
NorthWest Bank and Trust, Acworth, Georgia, becomes number 104 on the FDIC's hit list of 2010. The ailing bank was shuttered at an estimated cost to the Deposit Insurance Fund (DIF) of $37.1 million.
NorthWest Bank and Trust, Acworth, Georgia, was closed today by the Georgia Department of Banking and Finance, ...
Posted in FDIC FAILED BANKS | No Comments »
Wednesday, July 28th, 2010
Steve Dibert, MFI-Miami
What are Robo-Notaries? Robo-Notaries are usually local title agencies getting paid by Depositors and Trustees to act on their behalf. Robo-Notaries came to the forefront of the foreclosure debate last year when Judge Schack questioned their legitimacy because the Notaries often signed for more than one Trustee or ...
Posted in BREAKING NEWS! | No Comments »
Monday, July 26th, 2010
The ink was barely dry on our last post with the full tally, when another 7 bit the dust, pushing the total expected FDIC expense almost another half billion, breaching the $17B level. Also, the individual failures have exceeded 100, now reaching 103.
The updated list is below:
Posted in BREAKING NEWS! | No Comments »
Friday, July 23rd, 2010
Home Valley Bank, Cave Junction, Oregon, was the 103rd FDIC bank shut down this year.The agency estimates that the cost to the Deposit Insurance Fund (DIF) will be $37.1 million.
Home Valley Bank, Cave Junction, Oregon, was closed today by the Oregon Department of Consumer and Business Services, which appointed the ...
Posted in FDIC FAILED BANKS | No Comments »
