BUSINESS BRIEFING / BANKING
TIMES WIRE REPORTS
Regulators have shut down a small bank in Wilmington, N.C., and another in Fayetteville, Ga.
The two bank seizures push this year’s tally of failed banks up to 39. The wave of bank failures is expected to continue as the weak housing market and the rising unemployment rate cause more borrowers to default on their loans.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
