Okay, here's mine. In June of 2008 bought a ,10k 2 yr, CD through Schwab in my Simple IRA on New Frontier of Greeley, CO. It paid interest every 6 months and those funds rolled into the sweep account.
April 10th 2009 New Frontier was closed by the Colorado State Banking Commission and on April 16th I receive this Email from Schwab.
On April 10, 2009, New Frontier Bank, based in Greeley, CO, was closed by the State Bank Commissioner, by Order of the Banking Board of the Colorado Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as Receiver. You may have read that to protect depositors, the FDIC created the Deposit Insurance National Bank of Greeley (DINB), which will remain open for approximately 30 days to allow depositors time to open accounts at other insured institutions. Bank of the West, San Francisco, California, was contracted by the FDIC to provide operational management of the DINB. However, the agreement did not include brokered deposits, including CDs sold through Schwab CD OneSource®. The FDIC will transfer funds to CD brokers, like Schwab, directly.
Schwab will provide the FDIC with your name and account information. If the FDIC needs additional information, we'll contact you. The FDIC will determine how much each depositor is eligible to receive, and will transfer the funds to Schwab. Once we receive the funds, we'll credit your account as quickly as possible.
April 21st, Schwab closed the position which was listed as, "In Receivership" and deposited the 10k plus interest accrued up to April 10th, 2009 in my sweep account.
In my mind that was about as smooth as a deal could go, I was satisfied.