2010-05-01bankimplode.com

The FDIC hit squad ventured to San Juan, Puerto Rico tonight as the agency shuttered ailing Eurobank, San Juan, Puerto Rico and fed the remains to Oriental Bank and Trust, San Juan, Puerto Rico. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $743.9 million. Eurobank is the 58th FDIC-insured institution to fail in the nation this year and is one of three closed in Puerto Rico tonight. Read our full coverage here.


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