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Detroit goes to the bank: FDIC clears Ford, GM to open their own banks
The FDIC has approved Ford and GM to open their own FDIC-insured industrial banks, named Ford Credit Bank and GM Financial ...
An Illinois regulator closed Metropolitan Capital Bank & Trust on Friday, and the FDIC sold the majority of its assets to Detroit-based First Independence Bank.
The Federal Deposit Insurance Corp. said Metropolitan Capital Bank & Trust was closed by the Illinois Department of Financial and Professional Regulation, marking the first U.S. bank failure in 2026.
WASHINGTON - The Federal Deposit Insurance Corporation announced on Thursday that it had approved deposit insurance applications from Ford Motor Co. and General Motors Company, clearing the way for ...
The FDIC shuttered Signature Bank more than two years ago now. Isn’t it time for the billions of dollars that the FDIC has collected in selling off the bank’s assets to be distributed to creditors, ...
In coming days, the Federal Insurance Deposit Corp. ("FDIC") will waive several requirements in the plans banks are required to draw up for an orderly wind-down, should a bank fail, what are commonly ...
Standard FDIC and NCUA insurance covers up to $250,000 of deposits and interest earned on those deposits. Online-only banks also provide FDIC insurance, but fintech companies aren't part of the FDIC ...
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