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Regulators on Friday shut banks in Georgia, Michigan, Minnesota, Missouri, and California, bringing the number of bank failures this year to 120 amid the struggling economy and a cascade of defaults on loans. The Federal Deposit Insurance Corp. took over United Commercial Bank in San Francisco, with $11.2 billion in assets and $7.5 billion in deposits. East West Bancorp Inc., parent company of East West Bank based in Pasadena, Calif., is buying all of the deposits and most of the failed bank's assets.
| Even in a down economy people are hiring, but to take advantage of that you need to know where the jobs are and how best to prepare for your search. CBS4 has partnered with Monster.com to help you locate the jobs, and in the cbs4.com job center, we provide links to information which can help you prepare to re-enter the job market. | |
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Wondering which way the stock market may turn? Concerned about your money-market account, company's stock price, or the movements of markets around the world? These blogs give you a rapidly updated look at the markets and the economy.
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It may not be as bleak as it first seems. Lenders are taking new initiatives to work with borrowers who come to them early for assistance. Loans can be adjusted, payments can be delayed, and if foreclosure is unavoidable things can be done to make it easier on you and your family. Click to see alternatives and helpful tips from CBS4.com
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