The Real Deal Miami

IndyMac’s red flags ignored

July 21, 2008 12:02PM

Warning signals were flashing over the past two years at IndyMac Bank, but government regulators missed them, a new report says. The study said that there were at least three missed chances in the past two years to reel in the failed lender. The Center for Responsible Lending has laid part of the blame on the federal Office of Thrift Supervision, saying the agency did not perform even the most basic oversight.  The FBI has added IndyMac to its probe of lending practices.