Do you have a citation for this? My understanding is small community banks sold by the FDIC to larger banks or their depositors paid out directly. [0] Larger b

Do you have a citation for this? My understanding is small community banks sold by the FDIC to larger banks or their depositors paid out directly. [0] Larger banks - WaMu for instance - were put under the purview of the Office of Thrift Supervision (OTS) and their customers assets and certain liabilities sold. In WaMu's case it was to JPMorgan. [1] [0] https://www.fdic.gov/consumers/banking/facts/payment.html https://www.fdic.gov/consumers/banking/facts/payment.html [1] https://en.wikipedia.org/wiki/Office_of_Thrift_Supervision https://en.wikipedia.org/wiki/Office_of_Thrift_Supervision