FDIC to open office in Chicago suburb for bank failures

(CHICAGO TRIBUNE) — The Federal Deposit Insurance Corp. is opening a satellite office in Schaumburg that will accommodate up to 500 temporary staffers and contractors.

The FDIC, which has a downtown office, said the new location will open in March. It will manage receiverships and liquidate assets from failed Midwest banks.

That suggests that the pace of Illinois bank failures is likely to remain brisk. In 2009, regulators seized 21 banks statewide, topped only by Georgia.

via FDIC to open office in Schaumburg – chicagotribune.com.

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