In the ongoing saga of Oak Park’s late, lamented Park National Bank, state Sen. Don Harmon (D-Oak Park) is pushing for Congress to investigate the sale of the bank, which had community activists crying foul earlier this year.
Oak Park-based FBOP Corp. was taken over by the feds in October, with its banks sold to corporate-giant U.S. Bank of Minneapolis. FBOP tried to make last-minute maneuvers to avoid the takeover, but ran out of time.
Harmon passed a resolution last week in the Illinois Senate, urging an investigation into the takeover. The Illinois House also adopted the resolution last week, sponsored by representatives Karen Yarbrough, Angelo Saviano, Camille Lilly, LaShawn Ford, Marlow Colvin and Kenneth Dunkin.
“The FDIC has seized community-based banks throughout our state, while large banks benefited from taxpayer-funded bailouts,” Harmon said in a press release. “This resolution requests the U.S. Congress to dig deeper in their investigation and find out why.”