Newspaper article from our research archive:

Federal Regulators Place Restrictions on South Dakota Bank, Credit Card Firm.

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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