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The Federal Deposit Insurance Corporation (FDIC) may assume deposits of banks or allow other banks to assume them. The largest banks to be acquired have been the Merrill Lynch acquisition by Bank of America, the Bear Stearns and Washington Mutual acquisitions by JPMorgan Chase, and the Countrywide Financial acquisition also by Bank of America.
On March 11, 2003, Robert Marrama filed a voluntary bankruptcy petition under Chapter 7, thereby creating an estate consisting of all his property “wherever located and by whomever held.”. [2] Respondent Citizens Bank of Massachusetts was the principal creditor. In his petition, Marrama made a number of statements about his house in Maine ...
Frontier Communications Parent, Inc. is an American telecommunications company. [6] Known as Citizens Utilities Company until 2000, [7] Citizens Communications Company until 2008, [8] and Frontier Communications Corporation until 2020, [6] as a communications provider [9] with a fiber-optic network [10] and cloud-based services, [11] Frontier offers broadband internet, digital television, and ...
Oct. 22, 2021: Levee Breaks files for Chapter 7 bankruptcy. Oct. 22, 2021: Headley Grange Investments, an LLC established by Brian Serpone in 2017, files for bankruptcy. The company's business is ...
Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...
CIT Group. CIT Group (CIT), a subsidiary of First Citizens BancShares, is an American financial services company. It provides financing, including factoring, cash management, treasury management, mortgage loans, Small Business Administration loans, leasing, and advisory services principally to individuals, middle-market companies and small ...
Citizens Bank branch in Ypsilanti, Michigan. Citizens Republic Bancorp was a bank holding company for Citizens Bank, headquartered in Flint, Michigan. It merged with FirstMerit Bank in June 2013. It operated 219 branches and 248 ATMs in Michigan, Wisconsin, and Ohio. [4][5] FirstMerit merged with Huntington Bancshares in 2016.
The 2023 United States banking crisis was a series of bank failures and bankruptcies that took place in early 2023, with the United States federal government ultimately intervening in several ways. Over the course of five days in March 2023, three small-to-mid size U.S. banks failed, triggering a sharp decline in global bank stock prices and ...