A recent report by CNN.com ("Bank failure tally passes 100 for the year") revealed that the number of banks shuttered by the FDIC has now passed 100 for the year. Community Security Bank in Minnesota was the 101st bank closed in 2010. According to the report, the number of banks that must be closed will probably exceed 2009's number of 140 closed banks. Yet despite this, CNN.com writes that the economy is getting better: "Meanwhile, there is evidence to suggest that the banking industry has recovered from the worst of the financial crisis."
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