Wachovia banking operations acquired by Citigroup

The FDIC has stepped in to facilitate the acquisition of Wachovia by Citigroup. The FDIC stresses that Wachovia did not fail, it has been acquired.

“For Wachovia customers, today’s action will ensure seamless continuity of service from their bank and full protection for all of their deposits.” said FDIC Chairman Sheila C. Bair. “There will be no interruption in services and bank customers should expect business as usual.”

Wachovia customers should contact their normal banking representative with any further questions. 1-800-922-4684 or visit www.wachovia.com

Source: http://www.fdic.gov/news/news/press/2008/pr08088.html