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Tag Archives: FDIC

Bank of America loses $2.24B as loan losses rise

Posted on October 16, 2009December 6, 2009 by Jan Sobieski III | No Comments

CHARLOTTE, N.C. – Bank of America Corp. said Friday it lost more than $2.2 billion in the third quarter as loan losses kept rising, providing further evidence that consumers are still struggling to pay their bills. The nation’s second-largest bank said it wrote down loans on its books by almost $10 billion during the July-September […]

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FDIC: Bank Failures to Cost $100 Billion

Posted on September 29, 2009December 6, 2009 by Jan Sobieski III | No Comments

WASHINGTON — Federal regulators said Tuesday they expect U.S. bank failures to cost the deposit insurance fund about $100 billion in the next four years and the fund to be running at a deficit this month. That is higher than an earlier estimate of $70 billion in failure costs through 2013. The Federal Deposit Insurance […]

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