I am disappointed by your coverage of Washington First International Bank (in the June 19–25 issue). Earlier in the year, you published an article titled
After 20 years, Chinese bank forced to close its doors
On Friday, June 11, the Washington Department of Financial Institutions closed Seattle-based Washington First International Bank (WFIB) because it didn’t have enough capital.
Editorial: As we bid farewell to WFIB, we also welcome East West to the ID
Sadly, we have been reminded that nothing is safe in this economy. In January, we ran a profile on Washington First International Bank (WFIB).
Washington First weathers storm of controversy with FDIC list
As the world recovers from the global economic crisis, many people have looked to banks and financial service centers as the source for blame, questions, and answers. Along with the public unease, many banks have come under fire from the Federal Deposit Insurance Corporation (FDIC). It released a list of financial institutions that were under investigation.