FDIC to increase bank failure staffing by 60%

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FDIC to increase bank failure staffing by 60%: report

By Wallace Witkowski
Last update: 12:15 p.m. EDT March 25, 2008

SAN FRANCISCO (MarketWatch) -- The Federal Deposit Insurance Corp. plans to add about 140 workers to its bank failure division in coming months, an increase of 60%, to handle an anticipated rise of troubled banks, The Associated Press reported Tuesday, citing comments made by the FDIC's chief operating officer. "We want to make sure that we're prepared," FDIC COO John Bovenzi told the AP. There are about 76 banks on the FDIC's "problem institutions," the AP reported.

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