Failed Bank List
The Failed Bank List contains the names of banks that have failed and been closed by regulatory authorities. This list is crucial for compliance professionals, as it helps to identify institutions that pose a risk due to their past failures. Understanding the circumstances around these bank closures can assist in risk assessment and compliance monitoring.
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572 Entities in Failed Bank List
| Entity Name | Entity Type | Effective Date | Status |
|---|---|---|---|
Arcola Homestead Savings Bank | Company | Jun 4, 2010 | active |
Silicon Valley Bank | Company | Mar 10, 2023 | active |
Central Arizona Bank | Company | May 14, 2013 | active |
Bank of Elmwood | Company | Oct 23, 2009 | active |
Enterprise Banking Company | Company | Jan 21, 2011 | active |
LibertyPointe Bank | Company | Mar 11, 2010 | active |
Polk County Bank | Company | Nov 18, 2011 | active |
Platinum Community Bank | Company | Sep 4, 2009 | active |
Michigan Heritage Bank | Company | Apr 24, 2009 | active |
Mid City Bank Inc | Company | Nov 4, 2011 | active |
FAQs
Why is compliance with Failed Bank List necessary?
Complying with the Failed Bank List is crucial for several reasons. First, these lists help protect the financial system. When a bank fails, it affects not just the bank's customers but also the entire economy.
Which companies should comply with Failed Bank List?
Companies in the financial services industry, including banks, credit unions, and investment firms, must comply with the Failed Bank List. This compliance is crucial because it helps identify institutions that have failed and guides professionals in managing risks and protecting stakeholders. Adhering to this list enhances transparency and ensures responsible financial practices.
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