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News of the Competition (01/15/2013)
MADISON, Wis. (1/15/13)

  • The Federal Deposit Insurance Corp. (FDIC) announced a bank closing Friday, the first bank failure in 2013. There were 51 bank failures in 2012. The failed bank is Westside Community Bank, University Place, Wash., which was assumed by Sunwest Bank, Irvine, Calif. The closed bank held about $98 million in assets as of Sept. 30. The FDIC estimated the failure will cost its Deposit Insurance Fund roughly $20 million …
  • Some U.S. Bank customers soon can use the bank's new Go Mobile payment system--which allows iPhone owners to use a near-field communications-furnished case to make contactless payments (American Banker Jan. 11). The first to test the system before a wider introduction later this year will be New FlexPerks Travel Rewards Visa Signature Cardholders in Portland, Ore., and Salt Lake City, the bank announced Thursday …

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