Costs for U.S. Bank Failure $2 Million Higher than Estimated

The Federal Deposit Insurance Corp reports that bank failures in 2010 will cost more than their original estimates. The final tally was more than $24 billion, $2 billion over the FDIC’s estimates, with three Puerto Rican bank failures shouldering much of the blame. Even so, more than 100 out of the 157 bank failures were higher than FDIC estimates.

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U.S. bank failure costs to exceed estimates by $2 billion