WASHINGTON Federal and state banking regulators issued an order Tuesday that bars George J. Peterson, the former chairman and chief executive officer of Foxdale Bancorp of South Elgin, Ill., from getting any job in the banking industry.
Mr. Peterson agreed to the ban without admitting any wrongdoing.
The order, signed by representatives of the Federal Reserve Board, the Federal Deposit Insurance Corp., and the Illinois Commissioner of Banks and Real Estate, did not specify the charges against him.
Foxdale Bancorp is the parent company of Foxdale Bank, a state-chartered bank with assets of $44 million.
In December 1999 the Fed said Foxdale knowingly bought automobile loans from dealers who discriminated against certain people in their credit-granting decisions.
The press release announcing the order of prohibition did not indicate whether the cases are connected.
