Fierce winter storm hits Midwest with snow, wind DES MOINES, Iowa - A fierce winter storm hammered more than a dozen states Tuesday with dangerous ice, heavy snow and vicious winds that threatened to create 15-foot drifts in parts of the Upper Midwest. Federal regulators close 9 banks NEW YORK - Regulators shut California National Bank of Los Angeles and eight other banks as the weak economy continues to produce a stream of loan defaults. Colonial BancGroup shut down by federal officials WASHINGTON - Real estate lender Colonial BancGroup Inc. has been shut down by federal officials in the biggest U.S. bank failure this year.