Michigan Bank Fails, Along With 4 Others

By: Associated Press
By: Associated Press

WASHINGTON (AP) -- Federal regulators have shut down a total of five banks in Florida, Georgia and Michigan, lifting the number of U.S. bank failures this year to 39.

That follows 157 bank closures in 2010 as millions of mortgages went into default for non-payment.

The Federal Deposit Insurance Corporation on Friday seized Community Central Bank of Mount Clemens, Michigan, with $476.3 million in assets. The FDIC is offering affected deposit holders information on its web site.


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  • by Anonymous on Apr 30, 2011 at 06:39 PM
    This sounds like we are going into a depression?Then again have banks just became overly greedy like many other places.Lets keep prices going up and see the end results.Ask many on fixed low incomes like mim waged people,social security ones,disabled ones.Been eating much lately? paying all your bills,or is everyone paying their house payments or loans???I bet many will say not now,Gas prices are killing us.My kids are getting sick from not eating right,and so on.Only the rich have not had issues yet.What is wrong with this picture.
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