deposits

Last month, Grandpoint Bank opened up in Los Angeles. Haven't heard of it? Don't worry -- just about nobody has. When it opened late last month, it was a brand-spanking new bank. Well, basically new. It used to be the Santa Ana Business Bank, purchased last January by a company called Grandpoint...

Recent bank failures have required the Federal Deposit Insurance Corporation to make payments to depositors. The FDIC is called in when a bank fails and can't give depositors the cash in their bank accounts. A lot of focus has been on the limits of FDIC insurance, so that depositors are protected....