One might suspect that the total number of bank failures will exceed the 2008 total of 25, considering how many people are experiencing economic woes. This translates into no mortgage payments or loan and credit card payments.
Reuters: Two U.S. banks fail, first casualties in 2009
The Federal Deposit Insurance Corp said National Bank of Commerce of Berkeley, Illinois and Bank of Clark County of Vancouver, Washington were closing with other banks taking over their insured deposits.
In 2008, 25 banks were seized by officials, up from just 3 in 2007.
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