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Nervous IndyMac Customers Seek To Pull Funds

NPR | By Mandalit del Barco
Published July 14, 2008 at 3:00 PM CDT
Customers line up outside IndyMac bank in Pasadena, Calif., to withdraw their funds. The Federal Insurance Deposit Corporation took over the bank on Friday.
Mandalit Del Barco/NPR /
Customers line up outside IndyMac bank in Pasadena, Calif., to withdraw their funds. The Federal Insurance Deposit Corporation took over the bank on Friday.

Customers of IndyMac, the failed Pasadena, Calif-based bank, lined up Monday to withdraw their money from the institution.

The bank was taken over by the Federal Deposit Insurance Corporation late Friday. It reopened Monday as IndyMac Federal Bank.

The bank is the second-largest financial institution to fail in U.S. history.

The company had been having trouble raising funds and manage losses from failed mortgage loans.

Copyright 2023 NPR. To see more, visit https://www.npr.org.

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Mandalit del Barco
As an arts correspondent based at NPR West, Mandalit del Barco reports and produces stories about film, television, music, visual arts, dance and other topics.