FDIC Shuts Down NetBank Due to Defaults

(AP) -- NetBank Inc., an online bank with $2.5 billion in assets, was shut down by the government on Friday because of an excessive level of mortgage defaults.

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<p><a href="http://www.physorg.com/news110255604.html">FDIC Shuts Down NetBank Due to Defaults</a></p> <p>(AP) -- NetBank Inc., an online bank with $2.5 billion in assets, was shut down by the government on Friday because of an excessive level of mortgage defaults.</p>