Daily HODL: Bank Abruptly Shut Down by US Regulators in Second Bank Failure of 2024.
Financial regulators just shut down a bank in Oklahoma, marking the second US bank failure of 2024.
The First National Bank of Lindsay has been shuttered by the Office of the Comptroller of the Currency.
The agency says it took action after identifying false and deceptive bank records and other information that suggests fraud depleted the bank’s capital.
“The OCC also found that the bank was in an unsafe or unsound condition to transact business and that the bank’s assets were less than its obligations to its creditors and others.”
The OCC is also forwarding the matter to the US Department of Justice.
Off to the DOJ, eh? Well Merrick Garland will be right on top of it, you betcha!
But wait, there's more! More banks on the verge of failing:
Cryptopolitician: U.S. banks’ unrealized losses soar to 7 times 2008 crisis levels.
Unsustainable. Awaiting the domino effect.
