News In Brief

Another bank bites the dust

Kai Ryssdal Sep 17, 2010

This final note today to mark the passing of ISN Bank in Cherry Hill, N. J. The FDIC shut it down this afternoon — the 119th bank failure of the year so far. We’re still shy of last year’s record of 140.

Here’s the interesting thing. In 2008, the year of the financial crisis only 25 banks went under. ‘Course, one of ’em was Washington Mutual, the biggest bankruptcy this country’s ever had. Lehman Brothers doesn’t count, in case you’re wondering. It wasn’t FDIC insured. .

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.