TITLE

Legal Fight Delayed the Failure of Central Arizona Bank

AUTHOR(S)
Barba, Robert
PUB. DATE
May 2013
SOURCE
American Banker;5/16/2013, Vol. 178 Issue 76, p16
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article states Central Arizona Bank used a legal maneuver to stop the Arizona Department of Financial Institutions from closing it after the agency seized it on May 14, 2013 and notes the opinions of attorneys Benjamin Shapiro and Walt Moeling. The Bank of Lincolnwood's effort to prevent its closure in 2009 by the Illinois Department of Financial and Professional Regulation is noted. The article notes Central Arizona's parent company Capitol Bancorp has tried to recapitalize its franchise.
ACCESSION #
87663353

 

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