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Federal Regulators Place Restrictions on South Dakota Bank, Credit Card Firm.
- Article from:
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Knight Ridder/Tribune Business News
- Article date:
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September 26, 2003
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Copyright informationCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Sheryl Jean, Saint Paul Pioneer Press, Minn. Knight Ridder/Tribune Business News
Sep. 26--Federal regulators on Thursday imposed severe regulatory restrictions on the South Dakota bank and credit card business owned by T. Denny Sanford, the donor who recently pledged $35 million to help build a University of Minnesota football stadium.
The Federal Reserve Board issued a "written agreement" against United National Corp. and its two subsidiaries, First Premier Bank and Premier Bankcard, all based in Sioux Falls, S.D. Sanford is chairman of United National Corp., which is privately owned.
First Premier Bank, with just under $1 billion in assets, was South ...
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