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4 more banks fail

admin — Fri, 31 Jul 2009 20:07:23 +0000

NEW YORK (CNNMoney.com) — Regulators shut down four regional banks Friday, the Federal Deposit Insurance Corporation said, bringing the total number of banks to fail in the United States to 68 this year. Friday’s bank closures will cost the FDIC fund $215.7 million, bringing the total cost for failed banks to $14.43 billion this year. That compares with $17.6 billion in all of 2008. First State Bank of Altus, based in Altus, Okla., was shut down and Herring Bank, headquartered in Amarillo

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Tags: 2008, E, Insurance, New York, Regulators, The, United States

Colorado bad beef recall-380,000 pounds!

admin — Fri, 03 Jul 2009 01:07:31 +0000

Colorado based JBS Swift Beef Company recalls 380,000 high risk beef. Denver, CO(JusticeNewsFlash.com)–Federal regulators and JBS Swift Beef Company have issued a recall of about 380,000 pounds of beef products. JBS Swift Beef Company is a firm located in Greeley, Colorado. The Class I recall, meaning the product may cause serious health consequences or death, was issued on June 24, 2009, after discovering the beef products may possibly be contaminated with E. coli O157:H7. A complete list

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Tags: Colorado, E, Health, Regulators, The

530,000 Starbucks coffee grinders recalled-laceration hazard!

admin — Wed, 24 Jun 2009 03:06:56 +0000

Seattle Barista Blade high risk for laceration injury causes federal recall. Seattle, WA(JusticeNewsFlash.com)–Federal regulators and Starbuck’s Coffee Co., issued a recall of approximately 530,000 Starbucks Barista Blade Grinders and Seattle’s Best Coffee Blade Grinders on June 16, 2009. Starbucks Coffee Co. is a firm based out of Seattle, Washington. The reason for the federal recall is the potential laceration hazard when using the recalled product. The coffee grinder can turn on by itself

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Tags: E, Regulators, The

Illinois based battery equalizers recalled!

admin — Wed, 24 Jun 2009 04:06:49 +0000

Feds recall BattEQ Battery Equalizers for high risk fire hazard. Chicago, IL(JusticeNewsFlash.com)–Federal regulators with the CPSC and SmartSpark Energy Systems Inc., issued a recall of approximately 800 units of BattEQ Battery Equalizers on June 18, 2009. SmartSpark Energy Systems is a firm based out of Champaign, Illinois. BattEQ Battery Equalizers are under the voluntary recall, because they pose a fire hazard. The recalled products can overheat, causing burns and fires. The U.S. Consumer

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Tags: Arts, E, Energy, Regulators, The, U.S

Knorr Kosher Soup Mix recall!

admin — Wed, 24 Jun 2009 05:06:23 +0000

FDA recalls Knorr Kosher Soup Mix for undeclared egg products. The Food and Drug Administration (FDA) www.fda.gov is an agency under the United States Department of Health and Human Services. The FDA is responsible for maintaining the safety of cosmetics, veterinary products, medical devices, blood products, drugs, vaccines, dietary supplements, and foods. Federal regulators and Unilever United States, Inc., issued a recall on Knorr Kosher Soup Mix – Chicken Vegetable Flavor with Pasta on June

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Tags: E, Food, Health, Regulators, Services, The, United States

Feds shutter Florida’s BankUnited!

admin — Sat, 23 May 2009 03:05:25 +0000

Federal regulators closed BankUnited of Coral Gables-2009’s largest bank failure. Miami, FL(JusticeNewsFlash.com)–United States federal regulators closed failed BankUnited of Coral Gables, Florida. BankUnited, the biggest bank headquartered in Florida, was closed by the Federal Deposit Insurance Corporation (FDIC) regulators after faltering from loans made in the housing boom as reported by the Sun Sentinel. BankUnited’s inability to survive marks the nation’s largest bank failure this year.

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Tags: E, Florida, GA, Insurance, Loan, Regulators, Sun, The, United States

Judge denies Florida hedge fund manager bail

admin — Sat, 31 Jan 2009 06:01:39 +0000

West Palm Beach, FL (JusticeNewsFlash.com)–Breaking News: Arthur Nadel surrendered to authorities this past week and was denied bail by a U.S. court judge on Friday. Nadel disappeared on January 14, 2009 amidst accusations of securities fraud and wire fraud charges from U.S. Federal regulators. Apparently, the 76 year-old hedge fund manager stole from investors. Nadel whose Sarasota, Florida based investment funds contained less than $1 million when he valued the funds at $300 million to his i

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Tags: Breaking News, E, Florida, Fraud, Regulators, The, U.S

Chip Merlin on “State Farm’s Power Play and Propaganda Ploy”

admin — Thu, 29 Jan 2009 21:01:07 +0000

State Farm’s decision to withdraw from Florida has invited comment and Florida attorney Chip Merlin allowed us to cross post his comments here.State Farm is hard to figure out. They say one thing and often do another. When you finally get to the decision makers, there is usually some logic to why they do things despite disagreement from consumers or regulators. State Farm’s announcement that it was leaving the Florida property market really has me wondering–”what’s up?” From what I read and

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Tags: E, Florida, GA, Regulators, State Farm, The

Homeowners Breathing Easier

admin — Mon, 27 Oct 2008 03:10:38 +0000

Homeowners Breathing Easier Alan Zibel writes about changes in the mortgage game. They’ve been brought about the FDIC taking over troubled banks. FDIC-controlled banks are slower to foreclose on homeowners delinquent with their mortgage payments. They are modifying mortgage deals and all they reasonably can to let people stay in their homes. Foreclosures are terribly expensive for banks. Maribel Carrillo is one of the new, happy-ending stories for bank regulators who hope to stem th

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Tags: Ding, E, GA, Home, Mortgage, People, Regulators, The

AIG Was Forewarned of Inherent Weaknesses in its Management

admin — Mon, 13 Oct 2008 06:10:42 +0000

U.S. regulators sent a letter to American International Group Inc in March warning of its lack of transparency and ability to oversee its financial products, a top Democratic lawmaker said on Tuesday (10/7/08). Rep. Henry Waxman, who chairs the House Oversight and Government Committee, revealed the letter from the Office of Thrift Supervision (OTS) and a [...]

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Tags: 2008, E, Government, Law, Regulators, The, U.S