On Friday, November 5, 2010, First Vietnamese American Bank, Westminster, CA was closed by the California Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
Read more at: http://fdic.gov/news/news/press/2010/pr10245.html
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $9.6 million
