Source: Kathy Kristof, Los Angeles Times ( Free Registration )

The federal regulators who seized IndyMac Bank late last week reiterated Sunday that its branches would be open as usual this morning but said home equity lines of credit issued by the bank would be frozen pending a review of each account.

During a news conference at the bank’s Pasadena headquarters, officials of the Federal Deposit Insurance Corp. sought to assure customers - at least those who had less than $100,000 deposited or less than $250,000 in a retirement account - that their money was safe and would be fully accessible today.

“It’s business as usual,” said John Bovenzi, an FDIC official who was named chief executive of the reconstituted IndyMac Federal Bank when the government took control Friday

Read Full Article: Home equity lines frozen at IndyMac