Chicago’s ShoreBank fails, is bought by investors – Chicago-based ShoreBank, which for more than three decades made loans to South and West siders who might not have gotten financing elsewhere to buy homes, apartment buildings and start businesses, failed Friday. It had struggled for months to raise sufficient funds to stay afloat.Its deposits and most [...]
In light of the U.S. Senate passing its own version of federal financial reforms, a number of organizations and companies are reacting to the provisions, including credit card debt companies and representatives of the banking industry. Through the bill, the Consumer Financial Protection Bureau would be created, which would oversee products like credit cards and [...]
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