Mortgage Daily

Published On: May 14, 2010

Chicago Bank Likely Among Today’s Failures

Midwest-Bank warns of imminent failure

May 14, 2010

A Chicago-area bank has warned that it could be seized by regulators as early as today. The bank’s problems began when its investments in the Federal National Mortgage Association and the Federal Home Loan Bank Corp. evaporated after being taken over by the government.

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