BofA, Wells Fargo, JPM, Citigroup FDIC Fees May Top $10 Billion

[Crewleader]

Wednesday, September 30, 2009

The FDIC is struggling mightily to stay solvent. Given that there are bank failures every Friday, it's no easy feat for the FDIC to stay ahead of the game.

Please consider Bank of America, Major Banks’ FDIC Premiums May Top $10 Billion.

The Federal Deposit Insurance Corp.’s plan to rebuild its reserves may cost Bank of America Corp. and three of the largest U.S. banks more than $10 billion.

Bank of America, the biggest U.S. lender by deposits, may owe $3.5 billion under an FDIC proposal that banks prepay three years of premiums, based on the lowest assessment rate multiplied by the bank’s $900 billion in June 30 U.S. deposits.

http://globaleconomicanalysis.blogspot.com/2009/09/bofa-wells-fargo-jpm-citigroup-fdic.html?ref=patrick.net

[dixiegrrrrl]

1. Ahhh..but does the BOA have enough $$$ for those pesky fees

and those delicious bonuses too?
For 10 years the banks did not have to pay any of the mandated FDIC fees.
10 Years !!!!!

[clarence swinney]

2. Five own us

top 5 own 75% of all bank assets in America