Recession is Over Update: Regulators on Friday shut down a Nevada bank, raising the number of U.S. bank failures this year to 83.
The 83 closures so far this year is more than double the pace set in all of 2009. By this time last year, regulators had closed 40 banks. The pace has accelerated as banks’ losses mount on loans made for commercial property and development.
Read more in this USA Today article: http://www.usatoday.com/money/industries/banking/2010-06-19-bank-failure-pace-tops-2009_N.htm