Posted on 01/28/2010 12:00:12 PM PST by AtlasStalled
Broadway Bank, the troubled Chicago lender owned by the family of Illinois Treasurer and U.S. Senate candidate Alexi Giannoulias, has entered into a consent order with banking regulators requiring it to raise tens of millions in capital, stop paying dividends to the family without regulatory approval, and hire an outside party to evaluate the bank’s senior management. * * * This is not the first time the bank has been a source of embarrassment for Alexi Giannoulias. Three years ago, bank loans to several organized crime figures came to light. The bank foreclosed on properties held by two of those borrowers last year.
(Excerpt) Read more at chicagobusiness.com ...
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