5 Jun 2025
🏦FDIC Notice of Termination of Receiverships Summary
Notice of Termination of Receiverships
Summary
The Federal Deposit Insurance Corporation (FDIC) issues a notice regarding the termination of the receivership for New City Bank in Chicago, Illinois. The FDIC has fulfilled its obligations by liquidating assets and distributing dividends as required by law. The receivership will officially cease to exist following the stated termination date, with FDIC-Corporate authorized to act on the Receiver's behalf for necessary documentation.
Agencies
- Federal Deposit Insurance Corporation
Business Impact
$ - Low
The notice pertains to the termination of a receivership and the legal process of winding up a financial institution's affairs, which is not directly applicable to business operations or regulations impacting the general business community.