-
-
Insured deposits of Alpha Bank and Trust, Alpharetta, Ga., have been assumed by Stearns Bank, St. Cloud, Minn. The two Alpha Bank & Trust offices ...
-
The FDIC is adopting this final rule (``Rule'') requiring an insured depository institution with $50 billion or more in total assets to submit periodically to the FDIC a contingent plan for the resolution of such institution in the event of its failure (``Resolution Plan''). The Rule establishes the requirements for submission and content of a Resolution Plan, as well as procedures for review by the FDIC. The Rule requires a covered insured depository institution (``CIDI'') to submit a Resolution Plan that should enable the FDIC, as receiver, to resolve the institution under Sections 11 and 13 of the Federal Deposit Insurance Act (``FDI Act''), 12 U.S.C. 1821 and 1823, in a manner that ensures that depositors receive access to their insured deposits within one business day of the instit...
-
NEW YORK -- Double Rock Corporation ("Double Rock") is pleased to announce that today the U.S. Patent and Trademark Office issued to its wholly owned ...
-
PASADENA - Is my money safe?
That's the question many IndyMac customers are asking after the bank announced Tuesday that it will cut its work force by more than half and will no longer offer fixed-rate home mortgages.
-
NEW YORK -- PLIDs Capital LLC (LIDs), provider of Liquid Insured Deposits, the brokerage industry's first expanded FDIC sweep program, has named John ...
-
Insured deposits of Hume (Mo.) Bank have been assumed by security Bank, Rich Hill, Mo. Hume Bank was closed by the Missouri commissioner of finance, a...
-
To help protect against financial loss, trust funds should be maintained in a bank insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the U.S. government that protects against the loss of insured deposits if an FDIC-insured bank or savings association fails. FDIC deposit insurance is backed by the full faith and credit of the U.S. government.
To ensure trust funds are fully protected, collectors should understand FDIC coverage limits. The current FDIC deposit insurance coverage limit is $250,000 per depositor. (However, on Jan. 1, 2010, the standard coverage limit will return to $100,000 for most deposit categories.) This means if a depositor's accounts at one FDICinsured bank total $250,000 or less, the deposits are fully insured. A deposi...
-
It looks like the biggest banks are getting bigger on Long Island.
The three biggest banks in Nassau and Suffolk counties are attracting more deposits and growing their market share even as they operate slightly fewer branches, collectively controlling nearly half of the deposits at institutions insured by the Federal Deposit Insurance Corp.
-
NEW YORK -- LIDs Capital LLC, provider of Liquid Insured Deposits, is pleased to announce that Walter Cotumaccio has joined the company as National Sa...