by John D. Darer CLU ChFC CSSC RSP
The FDIC shut down of $25B 346 branch Colonial BancGroup, Inc. on Friday along with another bank brings the total bank failures in 2009 to 74. Colonial Branches will reopen as branches of BB&T with a total cost to FDIC of $2.8B.
During the same time period no structured settlement annuity issuer has been taken over by state insurance regulators in any state.
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