Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
News of the Competition (06/13/2014)
  • CHICAGO (6/13/14)--On June 10, the Federal Deposit Insurance Corp. filed suit against JPMorgan Chase & Co. and BMO Harris Bank to claim $265 million in federal tax refunds owed to failed FBOP Corp. banks ( Crain's Chicago Business June 12). The Oak Park, Ill.-based bank was seized by the FDIC in 2009 with most of the assets and deposits--with the exception of the tax refunds--being sold to U.S. Bank in Minneapolis. With a $246 million loan, JPMorgan was the biggest lender to FBOP, which at its peak held more than $19 billion in assets. Prior to its closure, FBOP was sued by BMO Harris to recover a $43 million loan. JPMorgan and BMO Harris want to recoup some of what they are owed with FBOP's tax refund. The FDIC estimates that the FBOP bank failure cost the insurance fund $2.5 billion ...


RSS print
News Now LiveWire
Of $1.3B in payments through mobile devices, 90% occurred at @Starbucks stores http://t.co/MN49JR1NXK
8 hours ago
.@LoveBethpage 1st to launch mobile debit/credit card control from @COOPFS http://t.co/kuq7onGuai
9 hours ago
A booming W Okla county gets its first #creditunion @TheHEFCU See #NewsNow http://t.co/svTyMnms0X
12 hours ago
Mortgage interest rates continue slide in September @FHFA http://t.co/agU9RJW5Kq
14 hours ago
Reimagined branches shift to member, not #creditunion, needs: @cunacouncils white paper http://t.co/lN2mu0IVar
15 hours ago