FDIC Confirms First US Bank Failure 🚨

Today, the FDIC officially confirmed the failure of Metropolitan Capital Bank & Trust. The institution has been closed due to unsafe and unsound operational conditions, compounded by an impaired capital position. This marks a significant event for the financial sector.

The closure is projected to incur a cost of approximately $19.7 million for the FDIC. This amount will be drawn directly from its Deposit Insurance Fund. Such expenditures highlight the ongoing responsibilities of deposit insurance.

It is important to clarify that this bank failure is not attributed to any speculative Silver or Gold pump-and-dump schemes. The issues leading to its closure are rooted in its fundamental financial health and operational stability.