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Regulators on Friday shut banks in Georgia, Michigan, Minnesota, Missouri, and California, bringing the number of bank failures this year to 120 amid the struggling economy and a cascade of defaults on loans. The Federal Deposit Insurance Corp. took over United Commercial Bank in San Francisco, with $11.2 billion in assets and $7.5 billion in deposits. East West Bancorp Inc., parent company of East West Bank based in Pasadena, Calif., is buying all of the deposits and most of the failed bank's assets.
Financial expert David Schauer is putting his expertise to use on CBS13.com in this new consumer financial Q&A section. He's taking viewer questions now.
The slumping housing market is sending foreclosure rates skyrocketing. And while some are losing their homes, the down market is creating home-owning opportunities for others. CBS13 has put together some information and links to help people navigate the housing market.
Facing Foreclosure | Buying & Selling Tips | Mortgage Calculator
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