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By Gus G. Sentementes, The Baltimore Sun | December 8, 2010
Olney-based Sandy Spring Bank warned Wednesday that counterfeit cashier's checks bearing the institution's name and routing number are in circulation. The company has notified the Federal Deposit Insurance Corp., a government corporation that guarantees bank deposits, of the counterfeit checks. The checks use the bank's routing number – 055001096 – and display an inaccurate security feature. According to Sandy Spring, the fake checks display a security feature statement embedded in a darkened top border and along the bottom border, between two padlock icons.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | April 7, 2014
The future of 1st Mariner, Baltimore's largest independent bank, could be decided this week. A bankruptcy judge approved First Mariner Bancorp's request last month to sell its bank as part of the parent company's Chapter 11 bankruptcy filing. Bids for the Baltimore-based bank were due by 4 p.m. Monday. Aside from being sold off, the bank is not included in the bankruptcy, and bank deposits, loans, contracts and other business will not be affected. The bank's parent filed for bankruptcy protection Feb. 10, capping its years-long struggle to get back on solid footing after residential loans soured during the housing bust.
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NEWS
By Andrea F. Siegel and Andrea F. Siegel,SUN STAFF | October 11, 2002
A bookkeeper for one of Annapolis' largest landlords admitted yesterday to skimming money from her boss' property rental business, but a daylong hearing failed to resolve the thorny questions of how much she took and when. The issues are crucial because they will determine how much money Heather Myers, 30, is ordered to pay back. The restitution hearing is to resume today. She pleaded guilty before Anne Arundel County Circuit Judge Pamela L. North to running a felony theft scheme. Assistant State's Attorney Clifford Stoddard Jr. contended that she methodically embezzled about $171,000 in rent money from May 1997 to September last year.
BUSINESS
The Baltimore Sun | April 1, 2014
First Mariner Bancorp's losses mounted last year before the parent of 1 s t Mariner Bank filed for bankruptcy protection in February. The bank itself is not included in the Chapter 11 bankruptcy, and its Baltimore-based parent has stressed that bank deposits, contracts and other business will not be affected. However, the bank will be auctioned off as part of the bankruptcy reorganization. First Mariner lost $19.1 million in 2013, a big swing from the $16.1 million profit it earned in 2012, as its vibrant mortgage origination business dwindled as interest rates rose last year, according to its annual 10-K filing with the Securities and Exchange Commission.
BUSINESS
Eileen Ambrose | September 18, 2012
The Federal Deposit Insurance Corp., which  insures bank deposits, warns that there are two fake emails claiming to be from the agency. One includes statements about the Bankruptcy Reform Act of 1978, and the Investor Protection Law of the Securities Act of 1933, according to the FDIC. It also uses this bogus address -- befdic.gov@execs.com -- and an area code of 646 for Washington, D.C. I don't know about the Investor Protection Law, but anyone in Maryland would know that DC's area code is 202. The other fake email purports to come from support@fdic.gov and mentions ACH transactions.
BUSINESS
By Knight-Ridder News Service | April 4, 1993
What could be safer than money in the bank? In most cases, nothing.But each year, consumers lose millions of dollars in uninsured deposits -- that is, amounts above $100,000 -- after their banks fail. And those losses have been growing in recent years, according to the Federal Deposit Insurance Corp., the government agency that insures bank deposits.When banks fail, uninsured deposits may be seized by the FDIC. The agency uses that money to help cover the costs of those failures.So how can you avoid losing money?
BUSINESS
By New York Times News Service | January 26, 1991
WASHINGTON -- Raising the specter of another huge taxpayer bailout, the White House has estimated that the program that insures bank deposits will show a deficit sometime next year, government officials said yesterday.And after that, they said, the hole will only grow deeper.The projection by the Office of Management and Budget, made in the budget request the White House will send to Congress on Feb. 4, is the first official estimate to become public that suggests that the bank insurance fund could be insolvent as early as 1992.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | May 30, 2003
Columbia Bancorp will continue to gain market share in its home market despite heightened competition and might make additional acquisitions, executives of the Columbia-based banking company told investors at the company's annual meeting yesterday. During the 15 years it has been open, the bank has survived changes and challenges to become one of the dominant companies in the wealthy Howard County market. Chief Executive Officer John M. Bond Jr. said he expects the bank to continue its market-share gains.
NEWS
By KNIGHT RIDDER/TRIBUNE | February 4, 2002
BUENOS AIRES, Argentina - The government of embattled President Eduardo Duhalde unveiled a plan last night to partially lift the freeze on bank deposits that brought residents into the streets, toppled two presidents and has virtually paralyzed business activity in Argentina for two months. Economic Minister Jorge Remes Lenicov also told Argentines yesterday that the peso would trade freely against the dollar. The government is abandoning the dual exchange rate system it announced just weeks ago, when Argentina ended a decade-old policy of pegging the peso's value to the dollar's.
BUSINESS
March 18, 2013
Maryland has to settle for the NIT, Cyprus is thinking about taxing bank deposits, and it turns out that your Amazon bestseller won't actually make you rich. Welcome to your post-weekend trends report for Monday, March 18, 2013. An author who managed to briefly have a best-selling book on Amazon last summer has debunked the idea that he's rolling in seven figures -- or even six -- to the fascination of his audience on Salon and Digg. Not much to put in the bank. Meanwhile, banks in Cyprus are getting nervous about that country's plans to tax their account holders.
BUSINESS
March 18, 2013
Maryland has to settle for the NIT, Cyprus is thinking about taxing bank deposits, and it turns out that your Amazon bestseller won't actually make you rich. Welcome to your post-weekend trends report for Monday, March 18, 2013. An author who managed to briefly have a best-selling book on Amazon last summer has debunked the idea that he's rolling in seven figures -- or even six -- to the fascination of his audience on Salon and Digg. Not much to put in the bank. Meanwhile, banks in Cyprus are getting nervous about that country's plans to tax their account holders.
NEWS
By Robert B. Reich | January 16, 2013
TARP, the infamous Troubled Assets Relief Program that bailed out Wall Street in 2008, is finally over. The Treasury Department recently announced it will soon be completing the sale of the remaining shares it owns of the banks and of General Motors. But it's not really over. The biggest Wall Street banks are now far bigger than they were four years ago, when they were considered too big to fail. The five largest have almost 44 percent of all U.S. bank deposits. That's up from 37 percent in 2007, just before the crash.
BUSINESS
Eileen Ambrose | September 18, 2012
The Federal Deposit Insurance Corp., which  insures bank deposits, warns that there are two fake emails claiming to be from the agency. One includes statements about the Bankruptcy Reform Act of 1978, and the Investor Protection Law of the Securities Act of 1933, according to the FDIC. It also uses this bogus address -- befdic.gov@execs.com -- and an area code of 646 for Washington, D.C. I don't know about the Investor Protection Law, but anyone in Maryland would know that DC's area code is 202. The other fake email purports to come from support@fdic.gov and mentions ACH transactions.
NEWS
By Walter Olson | May 29, 2012
Laws are like fine nets, catching the common fish even as the biggest push their way through. Or so you might think on learning of how federal prosecutors keep nabbing small and medium-size businesspeople who violate an obscure law relating to bank paperwork, even as the best-known violator of the law so far (a certain well-connected politico named Eliot Spitzer) walks free. Last month, the feds swooped down on a successful Maryland dairy business, South Mountain Creamery, seizing $70,000 in its bank accounts and formally charging its owners, Randy and Karen Sowers, with the offense of bank "structuring.
NEWS
By Hanah Cho, The Baltimore Sun | April 27, 2012
State banking regulators closed two Maryland banks Friday, the first two bank failures in the state since 2010. The Maryland Commissioner of Financial Regulation shut down the Bank of the Eastern Shore in Cambridge and appointed the Federal Deposit Insurance Corporation as receiver. The FDIC created the Deposit Insurance National Bank of Eastern Shore to allow customers to access their deposits until May 25. The state financial commissioner also closed HarVest Bank of Maryland in Gaithersburg, whose deposits and other assets were acquired by Sonabank in McLean, Va. HarVest's four branches will reopen during normal business hours as Sonabank's branches.
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | December 8, 2010
Olney-based Sandy Spring Bank warned Wednesday that counterfeit cashier's checks bearing the institution's name and routing number are in circulation. The company has notified the Federal Deposit Insurance Corp., a government corporation that guarantees bank deposits, of the counterfeit checks. The checks use the bank's routing number – 055001096 – and display an inaccurate security feature. According to Sandy Spring, the fake checks display a security feature statement embedded in a darkened top border and along the bottom border, between two padlock icons.
BUSINESS
By New York Times | November 25, 1991
WASHINGTON -- Premiums that banks pay to the deposit insurance fund are likely to rise sharply next year, perhaps as much as 30 percent, the new chairman of the Federal Deposit Insurance Corp. says.William Taylor, who replaced L. William Seidman as chairman of the FDIC a month ago, also said Federal regulators have begun to slow their seizures of troubled U.S. banks because of a depletion of the deposit insurance fund.Taylor said that the premiums may rise to 30 cents for every $100. Only five months ago, the premiums rose to 23 cents for every $100, a jump of 92 percent from 1990 levels.
BUSINESS
The Baltimore Sun | April 1, 2014
First Mariner Bancorp's losses mounted last year before the parent of 1 s t Mariner Bank filed for bankruptcy protection in February. The bank itself is not included in the Chapter 11 bankruptcy, and its Baltimore-based parent has stressed that bank deposits, contracts and other business will not be affected. However, the bank will be auctioned off as part of the bankruptcy reorganization. First Mariner lost $19.1 million in 2013, a big swing from the $16.1 million profit it earned in 2012, as its vibrant mortgage origination business dwindled as interest rates rose last year, according to its annual 10-K filing with the Securities and Exchange Commission.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | October 1, 2010
Sarah Bloom Raskin spent three years battling the national financial meltdown's effect on Maryland. Now she's taking that experience to a bigger platform. Raskin stepped down as the state's head financial regulator Friday so she can join the board of governors at the Federal Reserve, which oversees banks and is charged with maintaining the stability of the country's financial system. The Fed also sets a key interest rate that influences how much people pay for loans and receive on bank deposits.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 13, 2010
Two bank failures in a single day last week in the Baltimore region are a stark reminder to make sure your accounts are federally insured. One account at Baltimore's Ideal Federal Savings Bank at the end of March had $602,000 of uninsured money — more than twice the amount of the standard insurance limit, according to banking analyst Bert Ely, who noticed the account on the latest financial reports available from the bank. Ideal and Bay National Bank of Lutherville closed Friday.
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