June 6, 2008 – 10:03 am
National City is getting one last chance to fly right. The bank, which has been under the gun, is also under the scrutiny of federal regulators, according to the Wall Street Journal.
National City Corp.’s banking unit, which has been buffeted by rising bad loans, has recently entered into a “memorandum of understanding” with federal regulators, effectively putting the bank on probation.
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