Two banks fold, bringing total to 15 failures this year

SAN FRANCISCO (MarketWatch) — Northville, Mich.-based Main Street Bank and Eldred, Ill.-based Meridian Bank became the latest victims of the ongoing financial crisis on Friday, when they folded and their deposits were transferred by the Federal Deposit Insurance Corp.The closures are the 14th and 15th bank failures so far this year.The FDIC said in a [...] continue reading world news