Word: fdic
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Dates: during 1940-1949
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Last summer FDIC examiners wrote LOSS in place of Brown's "slow assets" and "doubtful assets," on Integrity's books, declared the bank insolvent...
...laying out of the body was done by FDIC, local banks and young Jack Bell, newly appointed Pennsylvania State Banking Secretary. Last week they invited the public in to see the damage...
...loss because Federal Deposit Insurance Corp. worked out a plan whereby the $6,000,000 of over-$5,000 deposits as well as the $29,000,000 of under-$5,000 deposits which it is obligated to protect were handed over to two other Philadelphia banks. Reason, according to FDIC's beaverlike Leo T. Crowley: "If we had let a bank like this go it might have had a bad effect on other Philadelphia banks. Also ... it would mean a forced liquidation." First National Bank of Philadelphia got Integrity's $25,000,000 of commercial deposits, Western Saving...