Number of Bank Failures Finally Starting to Decline?

When the FDIC released its Quarterly Banking Profile for the fourth quarter 2010, it included a statement from FDIC Chairman Sheila Bair that the agency believes "the number of failures peaked in 2010." However, at least through the end of February 2011, the evidence was to the contrary...

FDIC Files Suit Against Former Haven Trust Directors and Officers

On July 14, 2011, the FDIC filed a lawsuit in the Northern District of Georgia against 15 former directors and officers of Haven Trust Bank of Duluth, Georgia. This suit is the ninth the FDIC has filed as part of the current bank failure wave and the second that the FDIC has filed in Georgia. A copy...