MILWAUKEE -- A federal agency has shut down every single Guaranty Bank including all 48 in Wisconsin. Ten brick and mortar banks will reopen during business hours on Saturday, May 6th as a First-Citizens Bank. The Federal Deposit Insurance Corporation (FDIC) says First-Citizens Bank will take over the Guaranty Banks, and all Guaranty customers' accounts will automatically move over.
Resolving Too-Big-to-Fail Banks in the United States – Mercatus – In this getAbstract summary, you will learn: How the Federal Deposit Insurance Corporation (FDIC) has increased public confidence in the safety of bank deposits without eliminating the potential for bank failures; How banking crises have tested the FDIC’s ability to handle “too-big-to-fail” banks; How the FDIC’s authority to resolve large bank failures has changed.
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Sheila Bair on Big Banks' Greed and Impunity by BillMoyers.com. Sheila Bair, the longtime Republican who served as chair of the Federal Deposit Insurance Corporation (FDIC) during the fiscal meltdown five years ago, joins Bill to talk about American banks’ continuing risky and manipulative practices, their seeming immunity from prosecution, and growing anger from Congress and the public.