WASHINGTON - Federal regulators have opened themselves up to charges of playing presidential politics by seizing 20 units of First City Bancorporation of Texas just four days before the election.

The rushed nature of the seizure, late Friday evening led to speculation that regulators were reacting to political pressure from candidate Ross Perot and others who have charged that regulators were delaying failures until after the election.

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.