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This isn't the first nor last US bank to fail in this mortgage #*$!up, so beware. I heard bad rumors about another online bank just last week. Try to avoid keeping over 100k in one bank, and if you do, use a large bank that the US government would be unlikely let fail like bankamerica, citigoup, wachovia, etc.
The Federal Deposit Insurance Corp. takes control of the bank. Separately, ING Bank announced it gained FDIC approval to assume $1.4 billion of the failed bank's deposits and 104,000 of its customers.
In addition EverBank Inc. acquired $700 million of NetBank's mortgage assets.
[edited by: encyclo at 2:25 am (utc) on Sep. 30, 2007]
[edit reason] fixed quote tag [/edit]
But don't people ever learn? Risk Profiles and such - just the basic stuff around investments (yes, it's an investment to put money in the bank too - it comes with a risk - most people just don't seem to get it) or just putting money you actually depend on anywhere actually? - apparently not, but i'm guessing that's a business too!