Bank Failures | featured news

Afghanistan said on Sunday it won't be able to address a key International Monetary Fund concern over a looming cash crisis, sparked by a corruption scandal at a failed bank, for more than a month because lawmakers are on holidays.

The FDIC said two banks failed, McIntosh State Bank in Georgia and First Commercial Bank of Tampa Bay in Florida, to bring the tally of closures so far this year to 47.

The FDIC is close to settling a lawsuit that accused former Washington Mutual executives of taking gambles that sparked the thrift's 2008 collapse.

Washington Mutual reached a deal that could end a two-and-a-half-year bankruptcy odyssey that began with the largest bank failure in U.S. history.

U.S. regulators announced the failures of two banks, in Nevada and Illinois, bringing the total number of failures this year to 28.

The U.S. government's investigation into the Lehman Brothers collapse has hit daunting hurdles that could result in no civil or criminal charges ever being filed against the company's former executives.

The number of bank failures in 2010 eclipsed the total bank failures seen in all of last year as U.S. regulators announced the closure of four more banks.

Regulators seized six banks Friday in the Southeast, Midwest and Northeast, marking 125 failures for 2010.

U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.

Regulators closed six more banks around the country, marking the second consecutive year that more than 100 financial institutions have collapsed.