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US governers close 3 banks, total now 72

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    Last Updated: August 8th, 2009

    Bank regulators closed three banks on Friday, bringing the number of failures so far this year to 72 as the weakened economy takes its toll on the financial services sector.

    The Federal Deposit Insurance Corp estimated the three closures would cost its deposit fund a total of about $185 million.

    In 2008, 25 U.S. banks were collected by officials, up from only 3 in 2007.

    During the current financial crisis, Seattle-based lender Washington Mutual became the biggest bank to fail in U.S. history. It was closed in September while suffering from losses from soured mortgages and liquidity problems.

    The FDIC will insure up to $250,000 / account.

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