Banks in Minnesota, Michigan and Colorado were shut by regulators, bringing this year's toll of US failures to 98 amid the worst financial crisis in more than seven decades. Jennings State Bank and Warren Bank were closed by state regulators and the Federal Deposit Insurance Corporation was named receiver, it said at the weekend. Regulators this year have shut the most banks since the "savings-and-loan" crisis of the 1980s as lenders struggle with mounting losses on property loans. - Bloomberg
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