advertisement

Springfield bank warned about lending practices

Wednesday, May 27, 2009 | 9:09 a.m. CDT; updated 10:33 a.m. CDT, Wednesday, May 27, 2009

SPRINGFIELD — Government regulators are ordering officers of a Springfield bank to halt unsound and unsafe banking practices.

The Comptroller of the Currency of the U.S. Department of the Treasury filed a cease-and-desist order last month against Citizens National Bank of Springfield.

The document included a long list of changes in how the bank does business, particularly in how it approves real estate loans.

Frank Hilton, the bank's chairman and chief executive officer, said the bank has agreed to comply with the changes in the order and customers won't see any change in the bank's day-to-day operations.

Hilton called the order "regulatory overkill" but chalked it up to tightened oversight following other bank failures around the country.

 


Like what you see here? Become a member.


Show Me the Errors (What's this?)

Report corrections or additions here. Leave comments below here.

You must be logged in to participate in the Show Me the Errors contest.


Comments

Leave a comment

Speak up and join the conversation! Make sure to follow the guidelines outlined below and register with our site. You must be logged in to comment. (Our full comment policy is here.)

  • Don't use obscene, profane or vulgar language.
  • Don't use language that makes personal attacks on fellow commenters or discriminates based on race, religion, gender or ethnicity.
  • Use your real first and last name when registering on the website. It will be published with every comment. (Read why we ask for that here.)
  • Don’t solicit or promote businesses.

We are not able to monitor every comment that comes through. If you see something objectionable, please click the "Report comment" link.

You must be logged in to comment.

Forget your password?

Don't have an account? Register here.

advertisements