Archive for the ‘News’ Category

The parent company of UmbrellaBank.com – New South Federal Savings Bank has failed. All deposits should be secured because Beal Bank has taken over the bank. Here is the excerpt from the FDIC press release: New South Federal Savings Bank, Irondale, Alabama, was closed today by the Office of Thrift Supervision, which appointed the Federal [...]

Continue reading...

Advanta Bank Corp. has closed down their small business credit cards in an attempt to save itself from bankruptcy. Advanta serves nearly one million small businesses customers with their credit card services. All current credit cards will be frozen by June 1st, 2009. Cardholders received e-mails from the bank notifying them that they would not [...]

Continue reading...