FDIC Creates New Online Tool for Customers of Failed Banks

The FDIC has reacted to the increased pace of bank failures this summer by creating a tool which allows customers of a failed bank to determine their insurance status within one business day of the bank closure.

From the FDIC website:

“This tool allows failed bank customers the ability to verify whether their account is fully insured [...]

FDIC Update on IndyMac Bank

The blame game is in full force after Friday’s late news that IndyMac Bank was being closed by the FDIC. Bush administration officials have blamed Senator Schumer, Schumer has blamed IndyMac executives, and regulators are blaming the media for misrepresenting the story. Today the FDIC released a statement regarding the media frezy in an effort [...]

4th of July Bank CD and Money Market Rate Specials from EverBank, US Bank and IndyMac Bank

Three major American banks are in the giving mood on the nation’s 232nd birthday with rate specials on CDs and money markets:
US Bank
5.00% APY on their 59-month CD, $100 minimum deposit
4.00% APY on their 25-month term CD, $100 minimum deposit
EverBank
4.65% APY on their money market account, intro-APY guaranteed for 90 days, $1,500 minimum
IndyMac Bank
4.00% APY [...]

IndyMac Bank still in the game at 5.70%

With online banks from the East Coast to the West Coast dropping deposit rates on savings accounts and CD accounts, Indymac Bank as of 11:19 AM CST September 20, 2007 is still offering a 5.70% APY on their 5-month and 6-month CD terms. IndyMac Bank has been the subject of a lot of media scrutiny [...]

IndyMac Bank Raises Deposit Rates Again

IndyMac Bank (FDIC# 29730) increased deposit rate again with both their 5-month and 6-month CD terms now yielding 5.70% with a simple interest rate of 5.55%. Minimum deposit is $5,00 and accounts must be opened online.
IndyMac Bank is the nation’s 2nd largest independent mortgage broker and is facing well-publicized difficulties with their mortgage portfolio. But [...]

Online Bank Deals with Yields of 5.50% and Higher

Countrywide Bank is fighting back after a difficult week which the bank maximized its credit line to $11.5 billion, their stock price (CPC) continued to fall, Moody’s warned that the company’s debt may be downgraded to junk, and news reports of customer storming branch offices to withdraw funds. Countrywide has responded by pointed out the [...]

IndyMac Bank Increases Deposit Rates

IndyMac Bank (FDIC# 29730) has increased their rates this week on specific deposit products. The most attractive rates include:
5-month CD - 5.41% rate, 5.55% APY, $5,000 minimum9-month CD - 5.21% rate, 5.35% APY, $5,000 minimum1-year CD - 5.41% rate, 5.55% APY, $5,000 minimumInternet First Money Market - 5.60% rate, 5.75% APY, $5,000 minimum

Terms for CD [...]