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Number of Failed US Banks Hits 94

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AND ANOTHER ONE
Another two US banks have been closed by the federal regulator, taking the total number of American banking failures this year to 94. The Federal Deposit Insurance Corporation (FDIC), which controls the banking sector, has shut Irwin Union Bank & Trust and Irwin Union Bank, reported by BBC. The failure of the two banks is likely to cost the FDIC $850m. This will come from the regulator's banking failure insurance fund, which has fallen this year from $45bn to $10.4bn, due to the number of banks that have failed.
SOURCE:   BBC

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