The FDIC had another busy Friday shuttering 7 more banks including 3 banks in Puerto Rico. In addition to the Puerto Rico banks, WA and MI had one bank closing and MO had two banks closed.
Sheila Bair and her staff have closed 64 banks year to date and they are on pace to best last year's 140 bank closings. The FDIC has closed 22 banks during the past 3 weeks.
Collectively, the 7 banks closed Friday will cost the Deposit Insurance Fund (DIF) $7.33 billion.
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