Friday, July 31, 2009

Bank failures far outnumber CUs'

WASHINGTON (7/31/09)--The number of bank failures during the first half of 2009 far outnumber credit unions that have closed or been put into conservatorship, according to statistics released by the Federal Deposit Insurance Corp. (FDIC).

For the first six months of 2009, roughly 72 institutions--including seven banks from just last weekend--were either closed or taken over by regulators (Bank Info Security July 28).

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