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FDIC Figures Out Criminals Were Running Failed United Commercial Bank

Thursday, October 13, 2011 - 12:55 PM
The failure of United Commercial Bank in San Francisco, which was closed by regulators on November 6, 2009, was the fourth largest banking failure of 2009 and resulted in losses to the FDIC Deposit Insurance Fund of $2.5 billion.

Almost two years later, the FDIC announced that it was seeking to prohibit ten former officers of the bank from any further involvement in the banking industry and assessing $1.7 million in civil penalties. 

FDIC Figures Out That Criminals Were Running Failed United Commercial Bank | Problem Bank List
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