The Spectacle Blog

ShoreBank: Seized, Saved, Survives

On Friday the Federal Deposit Insurance Corporation seized politically-connected ShoreBank, covered some of its losses, then handed it right back to the same management team with a new name: Urban Partnership Bank.

By on 8.23.10 | 5:43PM

On Friday the Federal Deposit Insurance Corporation seized politically-connected ShoreBank, covered some of its losses, then handed it right back to the same management team with a new name: Urban Partnership Bank. Over at the National Legal and Policy Center Web site I dissect it a little bit, and warn about institutions like ShoreBank who try to meet more than one bottom line.

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