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.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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