|
|
Article: Bank regs targeting Brickyard; Suburban lender ordered to change biz methods.(Brickyard Bank ordered to raise more capital by U.S. Federal Deposit Insurance Corp.)(Government Activity)(Brief Article)(Statistical Data Included)
- Article from:
- Crain's Chicago Business
- Article date:
- September 30, 2002
- Author:
CopyrightCOPYRIGHT 2002 Crain Communications, Inc. 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)
|
Byline: STEVE DANIELS
In one of the toughest bank regulatory actions locally since last year's closing of Superior Bank FSB, state and federal authorities have clamped down on a Lincoln- wood bank.
The regulators have ordered Brickyard Bank to raise more capital, significantly boost reserves to cover troubled loans and beef up loan underwriting standards. The cease-and-desist order tightens the leash on Brickyard, which agreed earlier this month to get out of payday lending under pressure from bank regulators.
Issued jointly Sept. 9 by the Federal Deposit Insurance Corp. (FDIC) and the Illinois Office of Banks and Real Estate, the order also ...
Related newspaper, magazine, and journal articles:
|
|
Article: Brickyard Is Latest to Quit Payday Lending: Leaves after 1 ...
American Banker;
September 18, 2002 ;
700+ words
... ... entering the payday lending business, Brickyard Bank of Lincolnwood, Ill., says it ... regulators. David L. Keller, Brickyard's chairman, president, and ... this lending too expensive for Brickyard. The Sept. 3 order by the Federal ...
|
|