Bank Bust Endgame: FDIC Terminates Multiple Receiverships
Published Date: 2/6/2025
Notice
Summary
The FDIC is wrapping up its work with several banks by ending their receiverships since all assets have been handled. If you’re a creditor, you might get a final payment soon. Anyone wanting to speak up has 30 days to send their comments before the receiverships officially close.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Final Payments for Proven Creditors
If you are a proven creditor of one of the listed receiverships (Citizens National Bank, Independent Bankers' Bank, Proficio Bank, Washington Federal Bank for Savings, City National Bank New Jersey), the FDIC says liquidation of assets is complete and it will make a final dividend payment to proven creditors “to the extent permitted by available funds and in accordance with law.” The receiverships are set to terminate no sooner than 30 days after the date of this notice (dated February 3, 2025).
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