CD Archives

Twenty two banks and thrifts have failed failed in 2008.Three more U.S. financial institutions failed Friday, bringing to 22 the number of banks and savings and loans that have collapsed this year. The Office of Thrift Supervision closed Downey Savings & Loan held by Downey Financial Corp. of Newport Beach, Calif. late Friday, placing the long-troubled thrift into Federal Deposit Insurance Corp. receivership. Read more»

Premarket futures were hinting at a higher open for U.S. stocks Monday, following a U.S. government plan to rescue ailing financial giant Citigroup.By Mike Taylor from TheStreet.com Updated from 7:03 a.m. EST Read more»

Troubled insurer The Hartford on Friday said it reached a deal to acquire Federal Trust Corp. and had applied to become a savings and loan, potentially opening it up to receive federal bailout money.The Hartford Financial Services Group on Friday said it reached a deal to acquire Federal Trust Corp. and had applied to become a savings and loan, potentially opening it up to receive federal bailout money. Read more»

Setbacks in regulatory filings this week could hamper two troubled thrift holding companies as Friday's deadline to apply for investments through the federal bailout effort draws near. Setbacks disclosed in regulatory filings this week raised questions about BankAtlantic Bancorp's chances to raise capital from the Treasury and Downey Financial's ab Read more»

Freedom Bank of Bradenton, Fla. is the 17th bank or thrift to fail this year.State regulators closed Freedom Bank of Bradenton, Fla. on Halloween, in what was the 17th U.S. bank or thrift failure of 2008. It was also the second closing of a Bradenton-based bank in 2008, following the Aug. 1 shuttering of First Priority Bank. Read more»

Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke waged a stout defense on Capitol Hill Tuesday of their management of a $700 billion financial bailout just one week after the administration abandoned the original strategy behind the rescue.Updated from 3:25 a.m. EST By Jeannine Aversa Read more»

The FDIC finally has no thrift or bank failures to announce on a Friday.A shocking bit of news on Friday came from the Federal Deposit Insurance Corporation, which didn't announce any bank or thrift closings, setting the agency up for its first weekend off in a month. Because we have no new failures to discuss this week, this is a good time to recap the 19 failures so far this year. Read more»

The bad news for banks just got worse, as the number of undercapitalized institutions rose last quarter.ome undercapitalized banks were nearly wiped out by securities losses springing from the government takeover of Fannie Mae and Freddie Mac in September, which all but eliminated the value of the mortgage giants' preferred stock. Read more»

In a low interest-rate environment, brokered certificates of deposit look more attractive than your typical bank CD.In today's difficult times, finding a decent return and some safety in your cash investments isn't easy. Certificates of deposits can be an ideal vehicle because they're simple, safe and stable. They almost always offer better interest rates than savings accounts, and they're almost always backed by FDIC insurance. Read more»