State regulators on Friday closed Edgebrook Bank, Chicago, and appointed the FDIC as receiver. Republic Bank of Chicago, Oak Brook, Ill., agreed to assume all of the failed banks $90 million in deposits and to purchase $79.7 million of its $90 million in assets. The failure, which is estimated to cost the Deposit Insurance Fund $16.8 million, was the fifth thus far in 2015. Read more.
Banks across the country will participate today in the ABA Foundation's 28th annual Teach Children to Save Day.
Reported losses from suspected internet crimes exceeded $16 billion in 2024, representing a 33% increase from the year before, the FBI’s Internet Crime Complaint Center said in its annual report.
New single-family homes sales rose to a seasonally adjusted annual rate of 724,000 according to the U.S. Census Bureau and HUD.
Economic activity was little changed since March, but uncertainty around international trade policy was pervasive across the 12 Federal Reserve districts, according to the Fed’s third Beige Book report of the year.
The FDIC announced it is changing the virtual data room contractor used to market failing financial institutions. The agency will use ShareVault VDR for all new projects beginning in May.
Sen. Dick Durbin (D-Ill.) will not seek re-election in 2026. He was the chief architect of the Durbin Amendment and co-sponsor of legislation to impose network routing mandates on financial institutions that issue credit cards.
