Citizens Bank - 5th Bank Failure in 2023

[Cdub100 3,824]

https://www.financialexpress.com/business/investing-abroad-citizens-bank-closed-the-federal-deposit-insurance-corporation-fdic-appointed-as-receiver-3296943/

 

The banking crisis continues in the US as another regional American bank shuts shop. The government has shut down Citizens Bank due to financial issues, allowing the Federal Deposit Insurance Corporation (FDIC) to take control without providing any public warning. FDIC issued a statement on November 3 stating the action taken on Citizens Bank.

[edjr 6,578]

Housing market still hasn't tanked. Ticking timebomb.....

[WhiteWonder 2,673]

title made me think it was the larger, more well known citizens bank rather than this podunk one 

[TimHauck 2,588]

FWIW, this is a smaller Citizens Bank based in Iowa with only 2 branches, not the one that has the naming rights to the Phillies stadium

[Voltaire 5,176]

1 hour ago, TimHauck said:

FWIW, this is a smaller Citizens Bank based in Iowa with only 2 branches, not the one that has the naming rights to the Phillies stadium

OH... important context I had missed having seen the headline but not yet clicking on the link.

[thegeneral 2,875]

I’m watching football and doing shet around the house but was wondering why this wasn’t a headline story everywhere

[supermike80 1,793]

3 hours ago, edjr said:

Housing market still hasn't tanked. Ticking timebomb.....

Oh is it ever. Now the feds I guess are offering low income down payment assistance or something like that.  Saw a blurb somewhere about this.  Yeah, thats a GREAT idea!  Worked wonders prior to the last housing collapse.  

We have about 40K left on our house, then will sell for cash, move north, buy with cash.  Glad I never have to deal with this stuff.

[WhiteWonder 2,673]

1 hour ago, thegeneral said:

I’m watching football and doing shet around the house but was wondering why this wasn’t a headline story everywhere

They got the perfect headline to mislead without being accused of misleading 

[BeenHereBefore 1,447]

My Mom's bank and they suck.