Federal Deposit Insurance Corporation | featured news

Bank earnings rose over the summer to their highest level in more than four years, while the number of troubled banks fell for the second straight quarter, federal regulators reported Tuesday.

The Federal Deposit Insurance Corp. must face a $10 billion lawsuit over the toxic remnants of Washington Mutual Bank, a federal judge ruled.

Regulators closed Public Savings Bank of Huntingdon Valley, Pa., on Thursday, boosting to 65 the number of U.S. bank failures this year.

A senior banking regulator urged Congress to raise the federal debt ceiling to prevent a "calamitous" government debt default.

Sheila Bair, one of the most visible regulators who navigated the recent financial crisis, will leave the Federal Deposit Insurance Corp on July 8, the agency announced on Monday.

The Federal Deposit Insurance Corp. said state regulators closed Access Bank of Champlin, Minn., and the Bank of Bonifay in Bonifay, Fla., bringing to 66 the number of U.S. banks that have failed this year.

The closures of Statewide Bank in Louisiana and Florida's Old Southern Bank brought the number of bank failures this year to 30, according to the Federal Deposit Insurance Corp.

Banks in six U.S. states were closed Friday, bringing the total number of failed banks this year to 140, at a cost of over $1 billion to the Federal Deposit Insurance Corporation.