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161 comments on DrumBeat: October 1, 2007

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SacredCowTipper on October 1, 2007 - 12:56pm Permalink | Subthread | Parent | Comments top

Assuming I go back to work this week (fingers crossed) I'd like to start banking in some fashion where I can use euros rather than dollars. I hear Everbank is an alternative to Netbank ... does anyone have an opinion on which bank will give me a cash card but let me store the funds in the euro? The $1,500 minimum for an Everbank account isn't such a stretch but I would probably shy away from anything much larger than that.

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ilargi on October 1, 2007 - 1:51pm Permalink | Subthread | Parent | Comments top

Actually, there's a connection here: NetBank folded after Everbank declined to purchase them. Letting them go down, and then buying assets, must have been cheaper.

EverBank to acquire some assets of failed NetBank

Less than two weeks after killing a deal to acquire NetBank, EverBank said it will acquire about $700 million worth of mortgage assets of the failed Internet bank.

The Federal Deposit Insurance Corp. and Office of Thrift Supervision shuttered NetBank Sept. 28, at the same time giving its approval for ING Bank to assume NetBank's insured deposits.

On Sept. 17, EverBank pulled the plug on its planned acquisition of substantially all of NetBank. EverBank said only that it made the decision "after it became clear that NetBank would not be able to complete certain conditions required to close and receive regulatory approval."

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161 comments on DrumBeat: October 1, 2007

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