posted by marco agent on Dec 19
The failure of Orion Bank in Naples last month has raised many questions. There don’t seem to be many answers. On Nov. 13, the Florida Office of Financial Regulation shut down the bank and appointed the Federal Deposit Insurance Corp. (FDIC) as the receiver. On the same day, the Federal Reserve Bank released an order calling for the immediate firing of Orion’s president and CEO Jerry Williams, describing the bank as “critically undercapitalized.”
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