subject: Twenty Two Banks Have Failed In Less Than One Month [print this page] Twenty two banks have failed in less than one month. On November 6th alone, the following five banks failed, according to the Federal Deposit Insurance Corporation ("FDIC"):
-United Commercial Bank, San Francisco, CA
-Gateway Bank of St. Louis, St. Louis, MO
-Prosperan Bank, Oakdale, MN
-Home Federal Savings Bank, Detroit, MI
-United Security Bank, Sparta, GA
The Federal Deposit Insurance Corporation acts as receiver of these failed banks. But ultimately these failed banks are taken over by other banks and financial institutions so the natural course of business for customers can continue with minimal interruption.
Full List of Failed Banks
To see the full list of failed banks, visit the FDIC's failed bank list. Go to FDIC's website and click on "Complete Failed Bank List."
The FDIC is a federal agency with tons of information that can be helpful to small businesses. A great majority of this information is available to the public, with full access rights, thanks to privileges afforded via the Freedom of Information Act ("FOIC").
Information like the failed banks list is golden information to source as a foreclosure cleaning business owner or property preservation company.
Target Asset Managers for Foreclosure Cleaning Business Work
The "acquiring institutions" of these banks (the banks and institutions that will manage the assets of these failed banks) are ripe for targeting for cleanup and property preservation work.
Much of the initial directional information is on the Federal Deposit Insurance Corporation's website, but you may have to do a little digging to get to the meat of what you really need. As a real estate cleanup business, you will ideally need the contact information for the REO ("Real Estate Owned") asset managers within these acquiring institutions.
A big part of why these institutions have failed has to do with running out of the green stuff, dollars, money, and that in turn means there are tons of REO properties sitting vacant, needing property preservation work: trash-outs (debris removal) winterization, cleaning, yard maintenance, boarding windows and doors, etc.
As a trashout business owner, you should check the FDIC's failed banks list often and start targeting the acquiring institutions in your geographic area of service.
Good luck with your business!
by: Cassandra Black
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