Betrayed WaMu Can’t Stop the Bleeding
Some wounds can kill and others once inflicted will never heal. Those that never heal are inflicted by betrayal, by trusted ones, by those sworn to protect and they hurt by far the most, but it was...
View ArticleFranklin Bank, SSB – Agency, FHA/VA
2008-05-22 stories: bizjournals.com, reuters.com We recently heard Houston-based Franklin Bank shut down wholesale lending operations, but now the entire company appears to be teetering on the brink of...
View ArticleCiti is Cracking
When the Citigroup execs refuse their bonuses, you just know they have finished plundering the company. As the credit bubble swelled, refusing a bonus would have been considered setting a bad example...
View ArticleSunTrust – $2.0B
2009-05-07-Stress Release: Sun Trust has passed the FED’s stress test to see if it was adequately capitalized, but regulators said it needed $2.2 billion to be adequately capitalized. You have to...
View ArticleWells Fargo – $138.6B
2009-09-18-The Fat Lady Clears her Throat: They say it ain’t over until the fat lady sings. Well, she’s clearing her throat. In order to sort through the disaster that is Wells Fargo’s (quote: WFC)...
View ArticleTelesis Community Credit Union, Chatsworth, CA
The $301.3 million Telesis Community Credit Union, of Chatsworth, CA , has failed.
View ArticleUSA One Credit Union, Matteson, Ill
Tiny USA One Credit Union has imploded, and has been taken over by Credit Union 1 of Rantoul, Ill.,
View ArticleA M Community Credit Union of Kenosha, Wisc.
A M Community Credit Union of Kenosha, Wisc., has failed. It is the third creidt union failure in 2012. The Wisconsin Office of Credit Unions placed A M Community Credit Union of Kenosha, Wisc., into...
View ArticleUnited Catholic Credit Union of Temperance, Michigan
United Catholic Credit Union (UCCU) of Temperance, Michigan, was shuttered under the weight of allegations of criminal activity. It is the eighth federally insured credit union liquidation in 2012....
View ArticleEl Paso’s Federal Credit Union (EPFCU) of El Paso, Texas
El Paso’s Federal Credit Union (EPFCU) of El Paso, Texas, was declared insolvent and closed by the National Credit Union Administration (NCUA). A small El Paso credit union that for 60 years served...
View ArticleWomen’s Southwest Federal Credit Union, Dallas, Texas
Women’s Southwest Federal Credit Union, Dallas, Texas, was liquidated by NCUA today. The tiny credit union was this year’s 18th credit union failure. The National Credit Union Administration (NCUA)...
View ArticleBorder Lodge Credit Union of Derby Line, Vt.
Border Lodge Credit Union of Derby Line, Vt., was closed by regulators on Friday appointing the NCUA as liquidating agent. Member deposits are protected up to $250,000 and a consumer service hotline...
View ArticleG.I.C. Federal Credit Union, Euclid, Ohio
G.I.C. Federal Credit Union, Euclid, Ohio, was closed by federal regulators today. It is the 12th federally insured credit union to be closed in 2012. G.I.C. was founded in 1936, and had 3,476...
View ArticleOlean Tile Employees Federal Credit Union, Olean, N.Y.
Olean Tile Employees Federal Credit Union, Olean, N.Y.,was shuttered today by the National Credit Union Administration (NCUA). Olean Tile Employees Federal Credit Union is the thirteenth federally...
View ArticleChetco FCU of Harbor, Oregon
Chetco FCU of Harbor, Oregon, moves from the frying pan to the fire as the National Credit Union Administration announced Friday that it had dived the carcass among two other credit unions. The failure...
View ArticleAmTrust Bank, Cleveland Ohio
The Office of Thrift Supervision has issued a cease-and-desist order against AmTrust Financial Corp based in Cleveland Ohio. The effective date of the order is November 19, and you can see the PDF...
View ArticleNew Frontier Bank, Greeley, Colorado
The Office of Thrift Supervision has issued a cease-and-desist order to prevent New Frontier Bank of Greeley, CO, from taking on new business or extending fresh credit. The cease-and-desist order,...
View ArticleMainstreet Bank, Forest Lake, Minnesota
Mainstreet Bank of Forest Lake, Minnesota, was slapped with an FDIC cease-and-desist order for unsafe lending practices. It seems like just yesterday that banks only knew how to lend recklessly, but...
View ArticleCorn Belt Bank and Trust Company, Pittsfield, Illinois
Corn Belt Bank and Trust Company, Pittsfield, Illinois, was hit with a cease-and-desist order from the FDIC. Federal and state banking regulators have filed cease-and-desist orders against West...
View ArticleWest Suburban Bank, Lombard, Illinois
West Suburban Bank, Lombard, Illinois, has received an FDIC cease-and-desist order for not doing the regulator’s job. Unlike most cease and desist orders having to do with lending practices, West...
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