ING gets the first of the spoils from the fall of NetBank

Written by Toni DasGupta on October 1st, 2007 | Posted in Startup

ING gets the first of the spoils from the fall of NetBank

ING is the first in line to acquire deposits of the failing NetBank - the first online-only bank in the US. ING will acquire $1.4 billion worth of deposits, as well as 104,000 customers for $14 million. Not a big surprise - they will not take on any of the bad subprime mortgage loans that got NetBank into trouble in the first place.

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