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lquadland10 (< 20)

When your bank fails will FDIC have enough money?

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11

June 30, 2008 – Comments (7) | RELATED TICKERS: AME , AUY , GLD

Who rates the FDIC and can they cover 50% of all the banks in America?

Press Releases
FDIC Makes Public May Enforcement Actions; No Administrative Hearings are Scheduled for July


FOR IMMEDIATE RELEASE
June 30, 2008
Media Contact:
LaJuan Williams-Dickerson
(202) 898-3876

The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in May. No administrative hearings are scheduled.

The FDIC processed a total of 21 orders in May. These included four cease-and-desist orders; seven removal and prohibition orders; six civil money penalties; three terminations of cease-and-desist orders; and one modification of cease-and-desist order.

Copies of the orders referred to above can be obtained from or inspected at the FDIC's Public Information Center, 3501 Fairfax Drive, Room E-1002, Arlington, VA (telephone 703-562-2200 or 1-877-275-3342). To view all orders online, visit the FDIC's Web page at http://www.fdic.gov/bank/individual/enforcement/index.html. A list of orders made public today follows.

* * * * * * * * * * *

FINAL ORDERS ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. § 1818(b)
(Cease-and-Desist)

Family Bank and Trust Co., Palos Hills, IL; FDIC-08-009b; Issued 5/9/08 - PDF (PDF Help)

Oxford Bank, Oxford, MI; FDIC-08-032b; Issued 5/15/08 - PDF (PDF Help)

Pinnacle Bank, Beaverton, OR; FDIC-08-126b; Issued 5/27/08 - PDF (PDF Help)

Earthstar Bank, Southampton, PA; FDIC-08-080b; Issued 5/28/08 - PDF (PDF Help)

FINAL ORDERS ISSUED PURSUANT TO SECTION 8(e), 12 U.S.C. § 1818(e)
(Removal and Prohibition Orders)

Bank of the West, San Francisco, CA; FDIC-07-202e; against Anita R. Luong; Issued 5/20/08 - PDF (PDF Help)

Hebron Savings Bank, Hebron, MD; FDIC-08-067e; against Sandra L. Walker; Issued 5/20/08 - PDF (PDF Help)

BancorpSouth Bank, Tupelo, MS; FDIC-07-122e; against Jon D. Storonsky; Issued 5/20/08 - PDF (PDF Help)

Empire Bank, Springfield, MO; FDIC-07-094e; against Deborah M. Levesque; Issued 2/8/08 - PDF (PDF Help)

Royal Bank America, Narberth, PA; FDIC-07-271e; against Joseph J. Zakorchemny, Jr.; Issued 5/20/08 - PDF (PDF Help)

Citizens Bank of Pennsylvania, Philadelphia, PA; FDIC-06-221e; against Monica Pigford Bryant a/k/a Monica Pigford; Issued 5/20/08 - PDF (PDF Help)

First Trust and Savings Bank, Oneida, TN; FDIC-08-029e; against Carol J. Bridges; Issued 5/20/08 - PDF (PDF Help)

FINAL ORDERS ISSUED PURSUANT TO SECTION 8(i), 12 U.S.C. § 1818(i)
(Civil Money Penalties)

Darby Bank and Trust Company, Vidalia, GA; FDIC-08-039k; in the amount of $9,500; Issued 5/12/08 - PDF (PDF Help)

Centier Bank, Whiting, IN; FDIC-07-181k; in the amount of $1,400; Issued 5/12/08 - PDF (PDF Help)

BancorpSouth Bank, Tupelo, MS; FDIC-07-123k; against Jon D. Storonsky in the amount of $2,500; Issued 5/20/08 - PDF (PDF Help)

Royal Bank America, Narberth, PA; FDIC-07-270k; against Joseph J. Zakorchemny, Jr. in the amount of $10,000; Issued 5/20/08 - PDF (PDF Help)

RidgeStone Bank, Brookfield, WI; FDIC-07-153k; in the amount of $3,450; Issued 5/12/08 - PDF (PDF Help)

Choice Bank, Oshkosh, WI; FDIC-07-167k; in the amount of $1,800; Issued 5/5/08 - PDF (PDF Help)

MODIFICATION

Ocean Bank, Miami, FL; FDIC-07-017b; Modification of Order to Cease and Desist; Issued 5/7/08 - PDF (PDF Help)

TERMINATIONS

Orders Terminating an Order to Cease and Desist

Great Eastern Bank of Florida, Miami, FL; FDIC-06-037b; Issued 5/23/08 - PDF (PDF Help)

Beardstown Savings s.b., Beardstown, IL; FDIC-07-063b; Issued 5/12/08 - PDF (PDF Help)

Prime Alliance Bank, Woods Cross, UT; FDIC-06-096b; Issued 5/29/08 - PDF (PDF Help)

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,494 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-52-2008

7 Comments – Post Your Own

#1) On June 30, 2008 at 12:38 PM, thought4 (< 20) wrote:

And everyone who walks into a bank that displays out front a "Member-FDIC" sign knows that an FDIC-insured checking account, or savings account, or individual retirement account, is the safest place in the world to put your money.

It's backed by industry funded reserves of over $50 billion dollars, and behind that stands the backing of the United States of America.  If you take the top 5 banks that went out is it more than 50 billion? Yes I think so.

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#2) On June 30, 2008 at 1:03 PM, joeykid13 wrote:

This is a great PSA...Thank You!!!

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#3) On June 30, 2008 at 1:16 PM, lquadland10 (< 20) wrote:

thought4    $50 billion dollars    IS THAT ALL ???????? That is BAD!!!!!!!!!!!!!!!!!!!!!!!
 

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#4) On June 30, 2008 at 1:36 PM, abitare (50.06) wrote:

Good post great find

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#5) On June 30, 2008 at 1:47 PM, lquadland10 (< 20) wrote:

abitarecatania  Thank you.

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#6) On June 30, 2008 at 2:56 PM, LORDZPAIN wrote:

Of course they can, they will just print up more money in the back room ???

whats the problem ???

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#7) On June 30, 2008 at 3:36 PM, lquadland10 (< 20) wrote:

oh............ I don't know maybe it will be $12.00 a gal gas or maybe it will be 7.50 a half gal milk or maybe it will be hum............ Americans being undocumented workers in Mexico that can live better there than here? I don't know what do you think?

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