Skip to main content

No Bank Failures in 2018

Phil Hall
Jan 11, 2019
A new survey conducted by Bankrate.com has found 55 percent of Americans do not think their personal financial situation will improve this year over last year

There were no bank failures during 2018, which marks the first year since 2006 and only the third year since the 1933 formation of the Federal Deposit Insurance Corp.
 
According to a CNBC report, the peak year for bank failures came in 1989 during the height of the savings and loan crisis, when 534 lenders went out of business. In the aftermath of the Great Recession, the highest number of failures in a single year was 157 during 2010.
 
The 2018 accomplishment follows the failure of eight banks in 2017. The banking industry has been enjoying a post-recession comeback, with Bloomberg reporting the six largest lenders are aiming for a record $100 billion in profits for 2018.

 
Published
Jan 11, 2019
Federal Regulators Race To Address Cryptocurrency Risks

Cryptocurrency is quickly morphing into a volatile but widely embraced innovation, and federal regulators are racing to address the potential risks to consumers and the market. 

Industry News
Sep 24, 2021
MBA Initiative Seeks To Close Racial Homeownership Gap

Says its advocacy, partnerships & connections will help increase opportunities for minority borrowers

Industry News
Sep 24, 2021
Guaranteed Rate Opens New Branch In Southwestern Michigan

Guaranteed Rate expanded its presence in Southwester Michigan, after opening a new branch in St. Joseph

Industry News
Sep 22, 2021
Chinese Property Giant Evergrande Falters, Threatening U.S. Investors

On Monday, investors across three continents dumped their stocks, mainly out of fear that the world’s two largest governments — the United States and China — would undercut the beginnings of a global economic recovery. 

Industry News
Sep 22, 2021
Compass Mortgage Expands In Four Additional States

Compass Mortgage is now licensed in Virginia, Washington, North Carolina and South Carolina.

Industry News
Sep 22, 2021
Enact Holdings Completes IPO

Genworth Financial Inc. announced the completion of the initial public offering for its subsidiary Enact Holdings Inc.

Industry News
Sep 21, 2021