FDIC shuts down IndyMac
The Federal Deposit Insurance Corporation (FDIC) was named conservator. The FDIC will transfer insured deposits and substantially all the assets of IndyMac Bank, FSB, Pasadena, CA, to IndyMac Federal Bank, FSB. Brokered deposits will be
The US regulators has just closed the Californian mortgage lender IndyMac, which failed to secure funding to cover $900 million of losses. As bank failures go, this is a big one. After IndyMac was America's second-biggest independent
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