The FDIC Closed A Chicago Bank Just Hours After It Received An Award From Treasury Secretary Tim Geithner

Park National Bank of Chicago received $50 million in tax credits to encourage investment in poor communities at an October 30, 2009 ceremony attended by Treasury Secretary Tim Geithner.

Hours later, though, it was seized along with eight other banks around the country that formed part of a holding company called FBOP Corp. and sold to U.S. Bancorp.

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