More Bite the Dust

Regulators shut down 3 banks in Florida, 2 in South Carolina and 1 in Michigan. 96 closures nationwide this year is far more than 2009, which was already a brisk year for shutdowns. By this time last year, regulators had closed 57 banks.

As losses have mounted he growing bank failures have sapped billions of dollars out of the deposit insurance fund. It fell into the red last year, and its deficit stood at $20.7 billion as of March 31.

Yahoo