ABC News: Feds Probe IndyMac Bank Collapse
Summary from multiple countries, from articles in English
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Media reports say the Federal Bureau of Investigation (FBI) inquiry involves the bank's practice of giving home loans to risky borrowers. (article 9)
The FBI is investigating failed bank IndyMac Bancorp Inc. for possible fraud, an official said Wednesday of the government's latest target following the collapse of the nation's subprime mortgage market. (article 7)
IndyMac Bank's assets were seized by federal regulators after the mortgage lender succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures. (article 7)
Banking experts said the chaotic scenes risked touching off runs on other banks unless federal regulators quickly cashed out insured accounts and gave depositors accurate information about their funds. (article 2)
Customers of failed IndyMac Bank faced shorter waits and less confusion at branch locations Wednesday, but some depositors who closed their accounts encountered new hurdles when they tried to deposit cashier's checks at other banks. (article 3)
The bank held just more than $32 billion in assets and had more than $19 billion in deposits as of March 31, the government said in announcing the bank's shutdown. (article 8)
The failure of IndyMac, one of the biggest banks to go under in US history, has sparked fresh fears about the survival of other lenders exposed to the faltering mortgage market. (article 1)
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Other stories about IndyMac, bank and FDIC:
Event tracking:
Story keywords
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IndyMac, bank, FDIC, depositors, regulators |
Source articles
- Failure raises concern for regional banks (ft.com, 07/15/2008, 686 words)
- Customers furious in Day 2 of IndyMac fed takeover (L.A. Times, 07/16/2008, 777 words)
- Waits improve at IndyMac bank branches (L.A. Times, 07/16/2008, 866 words)
- IndyMac Bancorp Latest News from LA Times and the Web (topics.latimes.com, 07/16/2008, 354 words)
- IndyMac lending reportedly being scrutinized by FBI (boston.com, 07/17/2008, 340 words)
- FOXNEWS.COM HOME > U.S. (FOX News, 07/16/2008, 491 words)
- ABC News: Report: FBI Investigates IndyMac for Fraud (ABCNews, 07/16/2008, 329 words)
- ABC News: Feds Probe IndyMac Bank Collapse (ABCNews, 07/16/2008, 334 words)
- FBI 'probes US mortgage lender' (BBC News, 07/17/2008, 343 words)
- FOXNEWS.COM HOME > YOUR WORLD W/ NEIL CAVUTO (FOX News, 07/16/2008, 229 words)
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