Friday, July 25, 2008

Two More Banks Fail

From WSJ: Federal regulators shut down two national banks late Friday in the latest chapter of the credit crisis. The Federal Deposit Insurance Corp. protected all depositors by selling the accounts to Mutual of Omaha Bank.

The Office of the Comptroller of the Currency, a division of the Treasury Department, revoked the charters of First National Bank of Nevada, based in Reno, Nev., and First Heritage Bank of Newport Beach, Calif. The FDIC was appointed receiver of both banks.

Concerned about your own bank and deposits? Read this.

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