Before regulators closed North Loop bank, millions in loans to Chicago rabbi, developer went uncollected

Before regulators closed North Loop bank, millions in loans to Chicago rabbi, developer went uncollected

Financial regulators won’t say what led them to take control of a North Side bank in January except that it involved “unsafe and unsound conditions and an impaired capital position.”But public records show that, prior to the abrupt shutdown and sale of Metropolitan Capital Bank & Trust, the institution tried to claw back two troubled loans totaling roughly $8.5 million — one involving a West Rogers Park rabbi now facing criminal charges, another…

Before regulators closed North Loop bank, millions in loans to Chicago rabbi, developer went uncollected | Illinois State Bar Association

Before regulators closed North Loop bank, millions in loans to Chicago rabbi, developer went uncollectedWhether those loans, totaling around $8.5 million, were factors in the government shutdown of Metropolitan Bank & Trust in January remains unclear. Source: Chicago Sun