Records show that millions of dollars in loans were exchanged


From all camps say enough is enough, he said. Is like this renegade Wild West mentality. I think people want to see a greater level of control and oversight. The best known of these failed banks was Security Savings and Loan of Waterbury, whose officers were key figures in the corruption trial and conviction of former Waterbury Mayor Joseph Santopietro.Bank of Stamford was one of eight banks to which regulators had issued cease and desist orders directing them to break a pattern of “crisscrossing loans” tied to Security Savings and Loan.Records show that millions of dollars in loans were exchanged one bank would typically make a loan to a real estate partnership made up of another bank’s officers, and vice versa.Although it is not illegal for banks to make loans to officers of other banks, regulators have said they become concerned when they see repeated instances of this kind of activity.No depositors lost money as a result of Thursday’s takeover. They automatically become customers of The Chase Manhattan Bank of Connecticut.Chase, which has $2.4 billion in assets and headquarters in Bridgeport Hermes Replica, said Thursday that it plans to reopen Fairfield County’s two offices in Stamford for business as usual today.Chase will not reopen Fairfield County’s sole branch in the Cos Cob section of Greenwich, but will serve depositors at its own branch about a block away at 211 E. Putnam Ave.

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