Dear Neighbors and Colleagues:
The Coalition to Save Community Banking is a grassroots alliance of community and faith-based organizations, small businesses, and many others in the Chicago Metro area, who were outraged by the 10/30/09 FDIC seizure of one of the finest community banks in the nation: PARK NATIONAL (First Bank of Oak Park). Despite its overall profitability and extraordinary support for low-moderate income communities, Park National was brought down by federal bank regulators -- and sold at a discount to the 5th largest bank in the nation! Unlike the "TOO BIG TO FAIL" Wall Street Banks, Park National got no help from TARP! Read the attached story that ran on PBS NewsHour!
As a result, our communities lost a key partner committed to revitalizing and serving our under-banked communities! THE CSCB called for a CONGRESSIONAL HEARING TO INVESTIGATE THE TAKEOVER, and the threat to community banking and Main Street recovery that such actions represent. NOW CONGRESS IS ABOUT TO HOLD THAT HEARING (late January 2010)!
This is YOUR chance to be heard! Send us your story about Park National Bank, and we'll submit it to Congress!
This is YOUR chance to be heard! Send us your story about Park National Bank, and we'll submit it to Congress!
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