HomeEconomyFDIC Seizes Control of 4th Bank... But Look What Biden's Doing

FDIC Seizes Control of 4th Bank… But Look What Biden’s Doing

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Heartland Tri-State Bank of Elkhart, Kansas, has failed, the Federal Deposit Insurance Corporation announced on Friday.

According to a news release posted on the FDIC’s website, the Kansas Office of the State Bank Commissioner seized the bank, and the FDIC was appointed as receiver.

The FDIC then collaborated with Dream First Bank, National Association of Syracuse, Kansas to assume all of Heartland Tri-State Bank’s deposits.

The FDIC announced that all deposits were transferred from Heartland bank to Dream First, regardless of amount.

According to the FDIC, First Republic, Silicon Valley Bank, and Signature Bank failed earlier this year. Silvergate, a fifth bank, liquidated voluntarily after the cryptocurrency market declined earlier in the year.

According to the New York Post, another bank failed as President Joe Biden was praising his performance in combating inflation.

“Earlier this week, the Washington Post suggested Republicans may have to find something else to criticize me for now that inflation is coming down,” Biden said.

“Maybe they’ll decide to impeach me because it’s coming down,” he said, later adding, “I’d love that one.”

As Biden completed his victory lap, petroleum prices were once again on the rise.

More on this story via The Western Journal:

According to AAA, the national average for a gallon of unleaded gasoline rose 13 cents in the past week.

“Gas demand, meaning people fueling up, remains tepid. It’s lower now than at this time last year and in 2021,” Andrew Gross, a representative of AAA, said. CONTINUE READING…

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