Bankruptcy Lawyer Layton Utah

Personal Bankruptcy Lawyer Near Layton Utah

Ascent Law LLC (801) 676-5506 Free Consultation

Personal Bankruptcy Lawyer Layton Utah

Is banking going to go bankrupt in America?

The banking system in the United States has been on the verge of collapse for some time now. It’s not a new topic, but it’s one that has many people concerned. If you’re one of them, you might be asking yourself: will my bank fail?

Understanding Banking Failure

Banks have been consolidating into bigger and bigger entities. The FDIC (Federal Deposit Insurance Corporation) is an independent government agency created by Congress in 1933 to maintain stability and public confidence in the nation’s financial system by insuring deposits. Its mission is to maintain public confidence in the U.S. banking system by protecting depositors’ funds through bank deposit insurance and resolving failed insured banks without taxpayer loss.

In 1995 there were over 18,000 commercial banks, but in 2013 there were just over 6,200 banks. The number of total bank failures since 2010 has been 611, and it’s predicted to hit 800 this year. The trend seems clear: with fewer large banks dominating the industry, there’s a greater chance that those big banks will fall during an economic crisis and affect more people than ever before.

Japan’s Financial System

We’ll never know for sure, but there are a lot of worries that our banking system is headed in the same direction as Japan’s. The Japanese economy has been struggling with deflation for nearly two decades now, and their banks are full of bad debt. But the problems of Japan’s financial system aren’t completely negative.

For one thing, the real estate market has been going strong in Japan for years despite low-interest rates. Also, people who have used credit cards to finance big purchases have been able to pay them off much more easily thanks to the deflation. That said, it’s hard to say what would happen if we had a massive banking crisis like Japan did.

If you have any questions, you can get a free consultation with Ascent Law LLC:

Ascent Law LLC:
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West Jordan, UT 84088
(801) 676-5506

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Ascent Law LLC
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West Jordan, Utah
84088 United States

Telephone: (801) 676-5506
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Layton, Utah

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Layton, Utah
Historic Downtown Layton

Historic Downtown Layton
Flag of Layton, Utah

Location within Davis County and the State of Utah

Location within Davis County and the State of Utah
Coordinates: 41°4′41″N 111°57′19″WCoordinates41°4′41″N 111°57′19″W
Country United States
State Utah
County Davis
Settled 1850s
Incorporated May 24, 1920
City 1950
Named for Christopher Layton

 • Type Council–manager[1]
 • Mayor Joy Petro

 • Total 22.65 sq mi (58.67 km2)
 • Land 22.50 sq mi (58.27 km2)
 • Water 0.16 sq mi (0.40 km2)

4,356 ft (1,328 m)

 • Total 83,291 (2,021 est)
 • Density 3,634.36/sq mi (1,403.35/km2)
Time zone UTC−7 (Mountain (MST))
 • Summer (DST) UTC−6 (MDT)
ZIP codes
84040, 84041
Area code(s) 385, 801
FIPS code 49-43660[5]
GNIS feature ID 2411639[3]

Layton is a city in Davis CountyUtah, United States. It is part of the Ogden-Clearfield Metropolitan Statistical Area. As of the 2020 census, the city had a population of 81,773,[4][7] with 2021 estimates showing a slight increase to 83,291. Layton is the most populous city in Davis County and the ninth most populous in Utah.

Layton has direct access to Salt Lake CityOgdenSalt Lake City International AirportAntelope Island, and the FrontRunner commuter rail. Layton City is a leader in economic development for the region, with immediate adjacency to Hill Air Force Base, a large hospitality district (1,000+ hotel beds) and conference center, the Layton Hills Mall, multiple nationally recognized retail and food chains, the East Gate Business Park, and the Weber State University-Davis campus.

In 2014, Layton contributed $1.34 billion[8] worth of retail sales activity, the second largest market north of Salt Lake City and seventh largest in Utah.

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