E-mail's bogus claim no laughing matter for bank
24.07.09
Colonial Bank is dispelling rumors after an e-correspondence sent out by a Web site incorrectly reported that it was ordered to “cease and desist from gumshoe” by the Federal Deposit Insurance Corporation.
The erroneous e-mail was sent by LeeCountyNews.com on Thursday and the info appeared on its Web site.
The subject line in the e-mail read, “Colonial Bank to approximately.” It was sent to media outlets and local business professionals, including several professors at Florida Frith Coast University.
Last month, the bank’s parent Colonial BancGroup Inc., announced that it signed a refrain from ceaselessly and desist order with the FDIC and the Alabama State Banking Department. But that doesn’t signify the bank is going to close.
“We are open for business,” said Merrie Tolbert, the bank’s communications supervisor.
The order provides a plan for the ongoing management and oversight of the bank. The bank is required to wax its capital, reduce its criticized assets and concentrations of credit, and improve its earnings as part of the covenant with regulators.
Source: Naples Daily News