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Regulators Order Two Chicago-Area Banks to Shape Up

American Banker  |  Monday, June 22, 2009

Baytree National Bank & Trust Co. of Lake Forest and DuPage National Bank of West Chicago are the latest Chicago-area institutions to be ordered by the OCC to shape up...

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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover
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