Would this notice apply to the City of Evansville or the County of Vanderburgh if they had millions of dollars sitting in interest bearing accounts or securities at Integra?
We would assume so. Our source for the notice is the Wall Street Journal where the FDIC posts legal notices. It only discussed creditors and depositors without regard to whether they are personal, corporate, or public.
Political subdivisions are required to deposit “public funds” in “approved” banks.
I doubt that Integra has been on the “approved” list for several years.
I heard the county had several million at Integra when it shut down. That’s why I asked.
Would this notice apply to the City of Evansville or the County of Vanderburgh if they had millions of dollars sitting in interest bearing accounts or securities at Integra?
We would assume so. Our source for the notice is the Wall Street Journal where the FDIC posts legal notices. It only discussed creditors and depositors without regard to whether they are personal, corporate, or public.
Political subdivisions are required to deposit “public funds” in “approved” banks.
I doubt that Integra has been on the “approved” list for several years.
I heard the county had several million at Integra when it shut down. That’s why I asked.
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