CHICAGO -- Continental Bank Corp. filed applications Friday to sever ties with the Office of the Comptroller of the Currency and to put its lead bank under Illinois regulators.

The bid to switch from a national to state charter, which is expected to be approved, came after a series of skirmishes between Continental and the Comptroller's office, according to Washington sources.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.