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Businesses For Sale Online Newsletter > Business News > Indymac Bank hit by the Crunch
Indymac Bank hit by the Crunch

Indymac Bank hit by the Crunch

July 2008
Credit Crunch problems grow as one of the US principal mortgage lenders buckles from the strain.

IndyMac Bank a major player in the US has suffered serious problems, with the regulators fearing the bank did not have sufficient funds to cover deposits & withdrawals.

It will reopen as IndyMac Federal Bank, under the direction of the Federal Deposit Insurance Corporation, and attempts are to be made to find a buyer.

Let us all wish the new format & its clients the very best & hope the ill wind blowing through the banking world will soon begin to warm once more.
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