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indymac, fdic, indybank, indymac fdic, indy bank
Failed Bank Seized and Shut Down by FDIC
The FDIC (Federal Deposit Insurance Co) shut down IndyMac Bank after an old-fashioned ‘run on the bank’. IndyMac customers withdrew $1.3B from IndyMac branches since a June 26 letter written by Senator Schumer (D-NY) that said the bank posed “significant risks to taxpayers and borrowers” was leaked to the public.
What Happened to the Money?
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