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Real Estate & Property Law

: Housing Wire

Downey Fails, Sold to US Bank by FDIC

By PAUL JACKSON

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The days of wondering about the future of Downey Financial Corp. (DSL: 0.18 -5.26%) are over; in a deal that is tantamount to a bank failure, the Federal Deposit Insurance Corp. said late Friday that it had secured a deal with US Bancorp (USB: 22.53 +1.85%) that will see the Minneapolis-based bank absorb the banking [...]

Full post as published by Housing Wire on November 23, 2008 (boomark / email).

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