IndyMac Federal Bank Not Affected by Bankruptcy Filing Of IndyMac Bancorp
Saturday, August 09, 2008
by Michael Peron
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On Friday, IndyMac Bancorp, the former holding company of IndyMac Bank, filed for bankruptcy protection under the U.S. Bankruptcy Code (Title 11, Chapter 7 U.S.C). Shortly after, IndyMac Federal Bank, FSB issued a statement saying that this action has no effect on its operations.
As DSNews.com reported last month, IndyMac Federal Bank, FSB came into existence on July 11, 2008, when IndyMac Bank was removed from its holding company, IndyMac Bancorp, and IndyMac Federal Bank was placed into conservatorship by the Federal Deposit Insurance Corporation (FDIC). Other than a similarity of name, Friday's statement said, IndyMac Federal Bank has no relationship with IndyMac Bancorp.
IndyMac Federal Bank's CEO John Bovenzi said, “The announcement by the former holding company of IndyMac Bank has no impact on IndyMac Federal Bank or its customers. Our customers will continue to receive the same value and personal service they have come to expect from IndyMac, which, due to its FDIC backing is one of the safest banks in America and a great place for our customers to keep their funds.”
IndyMac Federal Bank remains under the FDIC’s conservatorship and is backed by the FDIC’s $53 billion deposit insurance fund. According to the FDIC, its goal is to return the bank to the private ownership of safe and sound financial institutions within the next three months. Carrie Bay
As DSNews.com reported last month, IndyMac Federal Bank, FSB came into existence on July 11, 2008, when IndyMac Bank was removed from its holding company, IndyMac Bancorp, and IndyMac Federal Bank was placed into conservatorship by the Federal Deposit Insurance Corporation (FDIC). Other than a similarity of name, Friday's statement said, IndyMac Federal Bank has no relationship with IndyMac Bancorp.
IndyMac Federal Bank's CEO John Bovenzi said, “The announcement by the former holding company of IndyMac Bank has no impact on IndyMac Federal Bank or its customers. Our customers will continue to receive the same value and personal service they have come to expect from IndyMac, which, due to its FDIC backing is one of the safest banks in America and a great place for our customers to keep their funds.”
IndyMac Federal Bank remains under the FDIC’s conservatorship and is backed by the FDIC’s $53 billion deposit insurance fund. According to the FDIC, its goal is to return the bank to the private ownership of safe and sound financial institutions within the next three months. Carrie Bay
