BUSINESS
02/22/2009 05:12 am ET | Updated May 25, 2011

Bank Nationalization: What It Means For You

Could your bank turn into the Bank of the U.S.A.?

The latest wave of banking problems has investors worried that the government will nationalize deeply wounded institutions, such as Bank of America Corp. and Citigroup Inc.

Such a dramatic step could make it easier for some bank customers to get a loan. And customers with deposits will still be protected by federal insurance, just as they are today. Still, consumers could see more branch closings, more standardization across bank products and a deterioration in customer service. Common and preferred shareholders, meanwhile, will likely get wiped out in a bank nationalization.

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