FDIC Issues Colonial Bank A ‘Cease & Desist’ Order

Alabama Colonial Bank What does that mean for you the customer? Click here to find out.
by WKRG Staff
Published: Tue, June 09, 2009 - 4:02 pm CST
Colonial Bank has been issued a "cease and desist" order by the FDIC.

According to the order, Colonial Bank has "engaged in unsafe or unsound banking practices" and has committed "violations of law and/or regulations."

Now that sounds scary. But the bottom line for customers is your money is safe. As long as each account is less than $250,000, every penny is insured by the FDIC.
Email a Friend Email to a Friend   
Printer Friendly Printer Friendly
Translate: » Spanish | French | German | Italian | Japanese | Chinese | Russian | Hindi
vickistew Says:
Wed, Jun 10, 2009 at 4:09 pm

There is no reason to pull your money from the bank. FDIC insured means your money is covered- even if the FED took the bank over, it would still function as usual. Please educate yourself.

cmb1 Says:
Wed, Jun 10, 2009 at 12:56 pm

I would go and get all my money if it was in this bank!

Recently Commented On

Toddler Shot In Apparent Drive-by…

2 Total Comments
Toddler Shot In Apparent Drive-by Shooting Prichard police say a 1-year-old girl and her father were… more »

17 Arrested In Craig’s…

40 Total Comments
17 Arrested In Craig’s List Prostitution Sting Police from Gulfport to Biloxi teamed up for an undercover… more »

Fire Chief Memorial

1 Total Comments
Fire Chief Memorial People were paying their respect to Theodore-Tillmans Corner… more »

Mom in Court

29 Total Comments
Mom in Court Bond set at 1 Million for Mom charged in death. more »

Local Impacts from Hurricane…

14 Total Comments
Local Impacts from Hurricane Ida Here is a closer look at what you can expect from Hurricane… more »