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ingac70
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Fri Sep-19-08 04:33 PM Response to Original message |
| 1. Bankrate- don't trust 'em ... |
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Edited on Fri Sep-19-08 04:34 PM by ingac70
http://www.fivecentnickel.com/2008/08/07/can-you-trust-bankrates-bank-safety-ratings/
"A closer look at a recent failure So how does the system perform when it comes to predicting failures? As I said, this is highly anecdotal, but… On July 25th, First Heritage Bank, N.A. of Newport Beach, CA was closed down by the Office of the Comptroller of Currency, and the FDIC took it into receivership. So what did Bankrate have to say about all of this? Well… As of the date of the failure, First Heritage Bank had a 3-star rating, indicated that this bank was “performing.” In fact, even as I write this, First Heritage is still listed as having a 3-star rating:  More at the link.... |
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