Bank Watch List

Chase in Foreclosure Agreement With Federal Government

siteadmin — Tue, 19 Apr 2011 07:28:24 +0000

“Chase Bank, the retail banking unit of JPMorgan Chase & Co., announced that it is very close to finalizing a consent decree that will end a federal investigation into the bank’s foreclosure practices and policy, which many have considered to amount to foreclosure fraud.

According to a statement by Chief Executive Officer Jamie Dimon the decree will result in “”some very significant changes,”" in the processes the bank uses when foreclosing on home owners nation-wide and also addresses the use affidavits, documentation and fees charged in the mortgage foreclosure process.

The proposed decree doesn’t address the question of fines and penalties. Mr. Dimon states there will be fines and penalties to Chase, but due to the complexity of the matter they will be determined later; possibly by litigation.”

J.P. Morgan Chase Bank Writes Down Mortgage Servicing Unit

siteadmin — Tue, 19 Apr 2011 07:25:01 +0000

“In a move that could send Jitters across the financial service markets, J.P.Morgan Chase bank has written down the value of their mortgage servicing business unit by $1.1 billion.

This has resulted in first quarter losses to their retail financial services unit.

Wall Street analysts predict that this could have an adverse impact on the mortgage servicing operations of other major banks such as Wells Fargo, Bank Of America and Citi Bank.

Mortgage servicing business has not been profitable in the last 2 years because of the uncertain economic conditions and the meltdown of 2008.

One more important reason for this write down that is being told by the people in Chase is that the mortgage servicing business will not be profitable due to the new rules and restrictions imposed by the Federal Reserve.”

Additional information at: http://www.marketwatch.com/story/once-hot-mortgage-servicing-goes-cold-2011-04-13

Problem Bank List – 985 Banks and $432 Billion – Have We Recovered Yet?

siteadmin — Tue, 19 Apr 2011 07:18:53 +0000

“The Calculated Risk Blog has listed another problem bank list and surprisingly, the number of failing banks has increased to 985 in the new list.

The collective worth of these problem banks stands close to $432 Billion. Some of the banks managed to stay out of the problem bank list, irrespective of the fact that they were a part of this list when the problem bank list was released last time.

However, the surprising and depressing fact for the economy is that even after two years of global recessionary jolts, the failing banks are increasing in number at a gradual speed. This is hinting towards an underlying problem related to the fund management and monetary flow in the country.

Sooner or later, these failing banks would be taken over by the FDIC or the Federal government or will be liquidated – but for the economy, it would not be the best thing to happen. It is high time that the Obama administration steps up and establishes a strong monitoring system in place to eradicate the bad practices followed by the banks.”

Find out more: http://www.calculatedriskblog.com/2011/03/unofficial-problem-bank-list-increases_26.html

Valley Community Bank

admin — Fri, 25 Feb 2011 23:21:12 +0000

Valley Community Bank of St. Charles, Illinois failed and was closed on Feb. 25, 2011, according to this FDIC Press Release:

Valley Community Bank, St. Charles, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation – Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First State Bank, Mendota, Illinois, to assume all of the deposits of Valley Community Bank.

The five branches of Valley Community Bank will reopen during their normal business hours beginning Saturday, February 26, as branches of First State Bank. Depositors of Valley Community Bank will automatically become depositors of First State Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Valley Community Bank should continue to use their existing branches until they receive notice from First State Bank that it has completed systems changes to allow other First State Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Valley Community Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of December 31, 2010, Valley Community Bank had approximately $123.8 million in total assets and $124.2 million in total deposits. In addition to assuming all of the deposits of the failed bank, First State Bank agreed to purchase essentially all of the assets.

Valley Community Bank’s logo:

Read the whole Valley Community Bank press release

Useful Links and Info:

Valley Community Bank Website

First State Bank Website

First State Bank Logo:

FDIC.gov Failed Bank Info Page For Valley Community Bank Customers

FDIC Troubled Bank List: Is Your Bank On The List?

siteadmin — Sun, 06 Feb 2011 03:14:15 +0000

When you look at this list, there are two different sort of lists. There is the list that says they are in some financial troubles. Some of you might not want to go with them as for the things that you are up against. What do we mean by that? If they are having fianancial issues, you might find that there are some who raise their rates or so much more. That is the one thing that this could mean.

The other thing is that you want to be sure that they are not on the troubled list. This list says that they have some problems. Some of them might be financial situations that they might have. This could be really bad and if a bank goes under, changes might be quite significant to you. That is something you need to make sure of.

As you look at who is on this list, you need to read why they are on there. Some things you might be able to overlook, but there might be other things that you can’t overlook. There are many who have not heard about the banks as the banks haven’t given any information to their customers. They won’t give any information as they don’t want to lose any.

However, the FDIC feels that you have a right to know about this. That is why they created this list. We know it’s hard going about and finding a new bank, but for some of you, this might be the best thing you do for yourself.

This is a bit about what this list is. You now understand how just slight things that worry the FDIC could be trivial to you. Rates could increase, they could apply charges that you weren’t made aware of and so much more. Many have closed and left some clients stranded. Be sure to see if your bank is on this list to make sure you are kept in the loop.

There are many banks that are getting worried about what people will think about them. The reason for this is because of one list. This list is known as the FDIC troubled bank list. You should make sure that your bank isn’t on this list. Why is this? Here are some reasons that you want to be sure of this.
When you look at this list, there are two different sort of lists. There is the list that says they are in some financial troubles. Some of you might not want to go with them as for the things that you are up against. What do we mean by that? If they are having fianancial issues, you might find that there are some who raise their rates or so much more. That is the one thing that this could mean.
The other thing is that you want to be sure that they are not on the troubled list. This list says that they have some problems. Some of them might be financial situations that they might have. This could be really bad and if a bank goes under, changes might be quite significant to you. That is something you need to make sure of.
As you look at who is on this list, you need to read why they are on there. Some things you might be able to overlook, but there might be other things that you can’t overlook. There are many who have not heard about the banks as the banks haven’t given any information to their customers. They won’t give any information as they don’t want to lose any.
However, the FDIC feels that you have a right to know about this. That is why they created this list. We know it’s hard going about and finding a new bank, but for some of you, this might be the best thing you do for yourself.
This is a bit about what this list is. You now understand how just slight things that worry the FDIC could be trivial to you. Rates could increase, they could apply charges that you weren’t made aware of and so much more. Many have closed and left some clients stranded. Be sure to see if your bank is on this list to make sure you are kept in the loop.

Bank Ratings List – How To Find Out How Safe Your Bank Is

siteadmin — Thu, 03 Feb 2011 03:12:31 +0000

There is never an advance warning from the FDIC about the failing performances of any banking institution. You may only realize this when the institution is being taken over. You need to find the information regarding the liquidity, asset quality and profitability from reliable sources.

As much as there is little cause of worry for over the money if the banking institution is insured with FDIC, you always need to know what is happening with any banker. That is when the banking ratings list becomes very handy.

All of the information which you are provided with, these are able to provide you with information in regards to the business models of your banker, risk exposure when dealing with the banks, the banks strengths and weaknesses at any given time among many other vital information.

In this way, you can always stay ahead of things to avoid any inconveniences which may be caused to you when a banker experiences any circumstances that may lead to failure. The ratings will always keep you in control of personal finances at any one given time.

You need to know the performance of the institution you are using or are about to use. The list will always provide you with just such information to brace you with full information on aspects as credit reports of the banks. These can be found online to give you all necessary advance warning for some peace of mind with the banks you are using.

Keeping money in the banks is the best way to ensure that your money is really safe. Bank Ratings List – How to Find Out How Safe Your Bank Is, however, with cases of banking institution failures becoming too common the safety becomes questionable in particular cases. The breakdown provides you with information of how certain banks similar to the one you use are fairing on at any given time.
There is never an advance warning from the FDIC about the failing performances of any banking institution. You may only realize this when the institution is being taken over. You need to find the information regarding the liquidity, asset quality and profitability from reliable sources.
As much as there is little cause of worry for over the money if the banking institution is insured with FDIC, you always need to know what is happening with any banker. That is when the banking ratings list becomes very handy.
All of the information which you are provided with, these are able to provide you with information in regards to the business models of your banker, risk exposure when dealing with the banks, the banks strengths and weaknesses at any given time among many other vital information.
In this way, you can always stay ahead of things to avoid any inconveniences which may be caused to you when a banker experiences any circumstances that may lead to failure. The ratings will always keep you in control of personal finances at any one given time.
You need to know the performance of the institution you are using or are about to use. The list will always provide you with just such information to brace you with full information on aspects as credit reports of the banks. These can be found online to give you all necessary advance warning for some peace of mind with the banks you are using.

Failed Banks: What It Means To Depositors And Taxpayers When Banks Go Under

siteadmin — Tue, 01 Feb 2011 03:11:30 +0000

It is very important to ensure that the establishment that has been chosen is insured. This is a great way to invest money and rest easy, knowing that it is safe. If the establishment does not have the right reputation, or insurance it is going to be very difficult to get money back in the event that the bank goes under.

If the individual does run into an issue with failed banks, there is a way to get the money back. The establishment that is backed with the right insurance, will be able to call on the government for help. All account holders will get their money back from the government within a reasonable amount of time. This will set the account holder back, but they will get on their feet in no time.

When searching for a bank to invest in, take some time to look into the background and reputation of the establishment. This is an excellent way to get ahead and make sure that the money is protected. Talk with different managers and find out about special promotions for new investors and go from there. A little bit of research is going to go a long way in this case.

Believe it or not, this was becoming a very large problem. However, it seems that these banks have been able to come up with better business and spending plans so that they do not run into any issues later on. Work with these particular establishments, and there should never be a need to worry about losing a cent.

It seem as though the number of failed banks is decreasing. Many account holders are enjoying the new security features and taking advantage of numerous promotions. Begin looking for an establishment that will stay in business for years to come.

Millions of people entrust their money with numerous banks. Due to the bad economy, it is becoming more common to run into issues with failed banks. Depositors and taxpayers must be cautious and use this guide to their full advantage.
It is very important to ensure that the establishment that has been chosen is insured. This is a great way to invest money and rest easy, knowing that it is safe. If the establishment does not have the right reputation, or insurance it is going to be very difficult to get money back in the event that the bank goes under.
If the individual does run into an issue with failed banks, there is a way to get the money back. The establishment that is backed with the right insurance, will be able to call on the government for help. All account holders will get their money back from the government within a reasonable amount of time. This will set the account holder back, but they will get on their feet in no time.
When searching for a bank to invest in, take some time to look into the background and reputation of the establishment. This is an excellent way to get ahead and make sure that the money is protected. Talk with different managers and find out about special promotions for new investors and go from there. A little bit of research is going to go a long way in this case.
Believe it or not, this was becoming a very large problem. However, it seems that these banks have been able to come up with better business and spending plans so that they do not run into any issues later on. Work with these particular establishments, and there should never be a need to worry about losing a cent.
It seem as though the number of failed banks is decreasing. Many account holders are enjoying the new security features and taking advantage of numerous promotions. Begin looking for an establishment that will stay in business for years to come.

Bank Ratings: Finding A Safe Place For Your Nestegg

siteadmin — Sun, 30 Jan 2011 03:07:39 +0000

Banks are not all the same. In fact, most banks are probably quite different. Nearly all feature different rates and financial goods and services. And the level of customer satisfaction will vary at each as well. And some offer more security than others. You should consider the services that are important to you and make sure that the institution you are considering does offer them in high quality form.

However, the most important form of security that any bank can offer is the assurance that they are backed by the FDIC. In these times of economic trouble when more than a few financial institutions are forced to close their doors, usually because of bankruptcy or failure, it is of vital importance to make sure that your money is backed by this guarantee. If you are with a bank that does not offer this protection, you should switch immediately.

This FDIC insurance gives you assurance that you can get your money back even if the bank should fail. It does have limits. Your money will be backed up to $250,000. Do your research and make sure your bank is protected.

Do keep in mind that sometimes online banks will have lower interest rates and fees that may make them a good option to pursue. Many choose these banks for the high interest rates that they offer. You see, their costs are lower because they are not a real brick and mortar institution, which allows them to offer these great rates and options. More and more people are going the online route.

Many traditional banks now offer online banking, which may give you the best of both worlds. You can check your account and pay bills online from anywhere that you have Internet access. Some places offer direct deposit or wire transfer that many will appreciate and benefit from.

Though all these things are good, the most important factor is making sure that your little nest egg is indeed safe. So do your research, make sure the bank you have chosen is FDIC insured, and you can sleep peacefully at night.

Nearly all of us have to choose a financial facility that we feel we can trust to safe keep our assets. At one time, people would simply hide their money under a mattress, but in these modern days, that is not feasible for many reasons. Checking bank ratings is a great way to choose who you are going to do business with. Some people simply choose the bank that is closest to their home or business without doing any research, but this could be a huge mistake.
Banks are not all the same. In fact, most banks are probably quite different. Nearly all feature different rates and financial goods and services. And the level of customer satisfaction will vary at each as well. And some offer more security than others. You should consider the services that are important to you and make sure that the institution you are considering does offer them in high quality form.
However, the most important form of security that any bank can offer is the assurance that they are backed by the FDIC. In these times of economic trouble when more than a few financial institutions are forced to close their doors, usually because of bankruptcy or failure, it is of vital importance to make sure that your money is backed by this guarantee. If you are with a bank that does not offer this protection, you should switch immediately.
This FDIC insurance gives you assurance that you can get your money back even if the bank should fail. It does have limits. Your money will be backed up to $250,000. Do your research and make sure your bank is protected.
Do keep in mind that sometimes online banks will have lower interest rates and fees that may make them a good option to pursue. Many choose these banks for the high interest rates that they offer. You see, their costs are lower because they are not a real brick and mortar institution, which allows them to offer these great rates and options. More and more people are going the online route.
Many traditional banks now offer online banking, which may give you the best of both worlds. You can check your account and pay bills online from anywhere that you have Internet access. Some places offer direct deposit or wire transfer that many will appreciate and benefit from.
Though all these things are good, the most important factor is making sure that your little nest egg is indeed safe. So do your research, make sure the bank you have chosen is FDIC insured, and you can sleep peacefully at night.

Is Your Bank On The FDIC Failed Bank List?

siteadmin — Fri, 28 Jan 2011 03:06:30 +0000

You do have a way to keep a close eye on your bank to see where it stands. You can look on the Internet for access to a failed bank list, and you can search it occasionally to see if your personal bank is on it.

There are also websites that will rate various banks on a five star scale. If your bank is part of a major chain, then there is also a good chance you can find it here to see whether it is moving up or down the financial scale.

Even if your bank is on the failed list, then there is a good chance that your assets will be protected up to at least $250,000. This is one of the reasons why it is extremely important to choose an institution whose assets are protected by the F. D. I. C. If your bank is insured and within the limits of federal requirements, then you can rest at ease knowing that your money is safe.

It is important to choose your main financial institution carefully, and you can keep an eye to see how it is doing and make sure that you are doing the right thing by working with them. Thanks to modern technology, it is easier than ever to keep tabs on this.

All of us want to do our best to make sure that our money is secure. We often place our trust an our financial resources in financial institutions, but unfortunately no institution is fail-proof. No matter how carefully you choose your bank or how much research you do, there is no way to be absolutely certain that it is going to thrive forever. At the same time, with the current economic conditions, even those banks who are in trouble will not necessarily fail. You do need to stay updated on the status of your institution, and you can do so by looking at the fdic failed bank list.
You do have a way to keep a close eye on your bank to see where it stands. You can look on the Internet for access to a failed bank list, and you can search it occasionally to see if your personal bank is on it.
There are also websites that will rate various banks on a five star scale. If your bank is part of a major chain, then there is also a good chance you can find it here to see whether it is moving up or down the financial scale.
Even if your bank is on the failed list, then there is a good chance that your assets will be protected up to at least $250,000. This is one of the reasons why it is extremely important to choose an institution whose assets are protected by the F. D. I. C. If your bank is insured and within the limits of federal requirements, then you can rest at ease knowing that your money is safe.
It is important to choose your main financial institution carefully, and you can keep an eye to see how it is doing and make sure that you are doing the right thing by working with them. Thanks to modern technology, it is easier than ever to keep tabs on this.

FDIC.gov Website Resources Available & Reporting On Bank Failures

siteadmin — Wed, 26 Jan 2011 03:05:12 +0000

Consumer protection information like banking and money, fraud protection, financial education and literacy, community affairs, mortgages and loans are some of the resources which are provided to you by the FDIC.

Deposit insurance is also an available resource with information on international deposit insurance, insurance for your deposits, limits for insurable deposits, and lists of banks, deposit insurance fund and many more. When you look through the site, you will be able to also determine the assets which are not insurable.

Available data on banks will give you information of available banks and their operational history. You will be able to know where their branches are located around the country. This information would ale include their credit ratings and of course ensure that they meet certain set standards in the banking services provision.

Research information is also available to keep you up to date with trends in the banking industry. You are also able to learn how the institutional failures can affect your loans and deposits. You can do all these by simply browsing the website at a time of your own convenience. You can also be able to find very resourceful information on trainings and examinations which you could use.

The website does not give a listing on failing banks. It however advices on the study of relevant institutional ratings for information on how your financial institution may be fairing. The reporting on failures and takeover or sale is done when the financial institution has completely failed to meet some set standards of operation.

The Federal Deposit Insurance Corporation (FDIC) offers insurance to any depositors money with an insured institution. FDIC.gov Website Resources Available & Reporting on Bank Failures gives you the ease of knowing whether the banks you are using are insured or not so as to stop you from taking any risks with your money when banking institutions fail.
Consumer protection information like banking and money, fraud protection, financial education and literacy, community affairs, mortgages and loans are some of the resources which are provided to you by the FDIC.
Deposit insurance is also an available resource with information on international deposit insurance, insurance for your deposits, limits for insurable deposits, and lists of banks, deposit insurance fund and many more. When you look through the site, you will be able to also determine the assets which are not insurable.
Available data on banks will give you information of available banks and their operational history. You will be able to know where their branches are located around the country. This information would ale include their credit ratings and of course ensure that they meet certain set standards in the banking services provision.
Research information is also available to keep you up to date with trends in the banking industry. You are also able to learn how the institutional failures can affect your loans and deposits. You can do all these by simply browsing the website at a time of your own convenience. You can also be able to find very resourceful information on trainings and examinations which you could use.
The website does not give a listing on failing banks. It however advices on the study of relevant institutional ratings for information on how your financial institution may be fairing. The reporting on failures and takeover or sale is done when the financial institution has completely failed to meet some set standards of operation.