Bank failures might force FDIC to levy special fees on industry

08/20/2009 | Bloomberg

After last week's collapse of Colonial BancGroup and the prospect of more bank failures, the Federal Deposit Insurance Corp. might be forced to levy a special fee on the industry as soon as next month. The FDIC is trying to raise billions of dollars as 77 bank failures this year have drained the insurance fund. FDIC Chairwoman Sheila Bair indicated Aug. 5 that "another special assessment" likely would be levied in the fourth quarter, but it appears the agency might have to move up the date.

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