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FDIC Auctions Foreclosed Properties of Doral Bank

It will sell properties to the highest bidder in order to recover part of the $698 million in losses that the failed bank left behind

14 de octubre de 2015 - 12:00 AM

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This content was published more than 9 years ago.
The sale of the properties is happening eight months after the FDIC and the Office of the Commissioner of Financial Institutions closed Doral's operations due to insolvency, and sold the majority of its assets to Banco Popular and First Bank.
The sale of the properties is happening eight months after the FDIC and the Office of the Commissioner of Financial Institutions closed Doral's operations due to insolvency, and sold the majority of its assets to Banco Popular and First Bank.

With the expectation of creating a counterweight from the millions of dollars in losses that the close of Doral Bank caused, the Federal Deposit Insurance Corporation (FDIC) will put 150 residential and commercial properties up for auction this week.

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