Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

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
Better economic & #CU conditions,leading to higher rates in '15,'16, will boost CU earnings, asset quality,capital http://t.co/rmJvi3MIpQ
4 hours ago
RT @CUNA: Today is the first day of #CUYouthMonth How is your #creditunion celebrating?
9 hours ago
New @FICO score metric expected this week, will include utility payments http://t.co/l0hGhilMqQ
9 hours ago
.@TheNCUA increased supplier diversity in 2014 by 49%, although NCUA’s workforce diversity levels declined slightly.
9 hours ago
Also from FFIEC today, council announces reappointments of Mary Hughes and Lauren Kingry to its State Liaison Committee. 2of2
10 hours ago