newjerseynewsroom.com

1. State closes one-office ISN Bank in Cherry Hill, deposits turned over to Customers Bank chain
(Money/Economy)

... Deposit Insurance Corp. (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with New Century Bank (doing business as Customers Bank) of Phoenixville, Pa., ...

2. Big banks like Citigroup are still too big to fail after financial reform
(Money/Economy)

... the FDIC would step in with liquidation authority to mitigate the fallout by taking over the failed financial giant and "safely unwinding" it in an orderly way. It's preposterous. How could the FDIC ...

3. Nice article
(Comments/Unsorted comments)

Good analysis. There is absolutely nothing positive giving the FDIC so much power. It has already been seizing solvent institutions citing liquidity pressure while helping selective ones such as Goldman ...

4. Obama's timid two-dimensional approach to banking reform won't work
(Money/Economy)

... to the astonishing failure of the SEC to halt the Madoff Ponzi scheme after clear warnings. Under the Obama approach, once a disaster occurs, the FDIC would step in with its liquidation authority to ...

5. N.J. Senate panel OKs measure urging feds to regulate pre-paid debit card industry
(Money/Economy)

... FDIC insurance and the protections guaranteed under the Electronic Funds Transfers Act to protect prepaid debit card users from unauthorized use of the card. "Many of the people that use these pre-paid ...

6. U.S. economy, banks expected to perform poorly for years
(Money/Economy)

... of banks did not translate into more loans to consumers. Total loans and leases dropped $210.4 billion, or 2.8 percent, in the quarter, according to the FDIC. That was "the largest percentage decline in ...

7. Restoring a battered retirement portfolio
(Money/Economy)

... balance should be in fixed income investments, such as high quality bonds, FDIC insured CDs and conservative money market funds. This "one-size-fits-all" approach will be inappropriate for some individuals. ...

8. Bailed out banks thanking taxpayers with aggressive fees charged to needy consumers
(Money/Economy)

... the FDIC issued guidelines for bank payday loans, with a suggested cap of 36 percent interest. Wells Fargo, U.S. Bancorp and other banks have chosen not to follow the voluntary guidelines and instead ...

9. Goldman opposes more federal oversight of banks, insurers
(Money/Economy)

... was closed and the Federal Deposit insurance Corp. was appointed as receiver. Under FDIC supervision, a single branch reopened as North Jersey Community Bank and depositors were unaffected financially. ...

10. First N.J. bank fails, becomes 32nd closure in U.S. in '09
(Money/Economy)

...  As of Dec. 31, 2008, Citizens Community Bank had total assets of approximately $45.1 million and total deposits of $43.7 million, according to the FDIC. NJCB paid a premium of 0.67 percent to acquire ...

11. Cost of the Wall Street bailout
(Money/Economy)

... FDIC, Treasury and HUD have collectively allocated $10.8 trillion, and of that total, they’ve authorized $3.2 trillion to be spent, according to KBW. Here’s how that $3.2 trillion breaks down: The ...