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Netbank Closed By U.s. Regulators; Ing Assumes Assets

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A casualty of the US housing slowdown. At least depositors are mostly taken care of.

I did a search for "NetBank" on this forum, and noticed a few expats in Thailand use their services.

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NetBank Closed by U.S. Regulators; ING Assumes Assets

NetBank customers, here's what you need to know

yes, i read net bank was having some problems stemming from the sub-prime and credit freeze-up issues. a little like e*trade reporting a huge loss last week related to looses in their loan book (including sub and alt-a loans). who even knew they were in the mortgage business...most associate them with their discout brokerage arm (in fact, due to the losses, they are getting out of mortages and going to focus on the brokerage operations).

i almost went with net-bank when i expated a decade ago because they were one of the first truely online banks...but ultimately went with Citi and have been pretty happy with them.

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