Regulators close Liberty Pointe Bank

Liberty Pointe Bank was shut down Thursday by federal regulators in the wake of mounting loan defaults and the effects of the recession.The Federal Deposit

BROOKLYN - Liberty Pointe Bank was shut down Thursday by federal regulators in the wake of mounting loan defaults and the effects of the recession.

The Federal Deposit Insurance Corp. took over Liberty Pointe, which has two branches in Manhattan and one in Brooklyn. The bank catered largely to the Orthodox Jewish community by remaining open on Sundays.

The shutdown marks the 27th bank in the U.S. to fail this year.

advertisement | advertise on News 12

Trending Video

A nor'easter is making its way to the 1 Forecasters: 1 to 3 inches of rain possible on Monday
Kilusan Bautista once lived in Crown Heights until 2 NYC man's show puts spotlight on gentrification
Demonstrators protest on the National Mall in Washington, 3 Over 1 million join anti-Trump women's marches worldwide
Witnesses say a 10-year-old boy was struck by 4 Witnesses: 10-year-old hit by car in Brooklyn
Window cleaners speak about rescue from WTC 5 Window cleaners speak about rescue from WTC

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE