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Websites listing of CU as failure in error says CU
NAPERVILLE, Ill. (9/14/10)--DuPage CU in Naperville, Ill., has succeeded in getting its name removed after being erroneously listed last month as a troubled bank on a “Troubled Banks” page on the website www.nextbanktofail.com run by Bill Bartmann. The listing was based on an alleged $70,000 the credit union supposedly received in Troubled Asset Relief Program (TARP) funds (The Naperville Sun Aug. 25). However, now all is well, Bob Palumbo, CEO of the $261.5 million-asset credit union, told News Now. “The guy took credit unions off the listing after he realized credit unions didn’t receive TARP funds,” Palumbo said. “He said he had a part-time reporter who wanted to create some controversy. “[Bartmann] got all his information [in error] from the Federal Deposit Insurance Corp.,” Palumbo added. “Nothing came of it. Our members saw it and laughed.” Bartmann is a billionaire and CEO of Bartmann Enterprises, the paper said.


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