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June 13, 2008
Nat'l City Agrees to Oversight
National City reportedly is on probation, agreeing to a "memorandum of understanding" with the Office of the Comptroller of the Currency. Submitting to stricter federal oversight could mean capital levels at the nation's 10th largest bank have dropped under the minimum required level, according to observers. The mortgage crisis has hit the bank hard, forcing it to obtain a $7 billion capital infusion from equity investors in May.
Posted by S. Germain at June 13, 2008 08:01 AM