Regulators shut banks in Fla., NJ, Ohio, Okla.
Regulators on Friday shut down banks in Florida, New Jersey, Ohio, Oklahoma and Illinois, boosting to 69 the number of federally insured banks to fail this year amid the pressures of the weak economy and mounting loan defaults.
Regulators shut down two banks in Florida and one in California on Friday, boosting to 123 the number of US bank failures this year as loan defaults rise in the worst financial climate in decades.