The former president of a small business bank in New York closed by regulators on Friday has been arrested and charged with engaging in a variety of schemes to defraud the bank and its regulators, including the U.S. government’s Troubled Asset Relief Program.
Old Southern Bank was closed late Friday by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corp. as receiver.
THE two biggest banks in the country are to hike their credit card rates, the Irish Independent has learned.
(REYKJAVIK, Iceland) — Voters in tiny Iceland defied their parliament and international pressure, resoundingly rejecting a $5.3 billion plan to repay Britain and the Netherlands for debts spawned by the collapse of an Icelandic bank.
March 6 (Bloomberg) — Regulators shut banks in Maryland, Illinois, Florida and Utah, pushing the number of U.S. failures to 26 this year and placing more pressure on the Federal Deposit Insurance Corp. to dispose of a growing pile of toxic assets.
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