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The Latest UPS Headlines
Failed bank, FDIC sue UPS unit
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<blockquote data-quote="cheryl" data-source="post: 571218" data-attributes="member: 1"><p><strong>Failed bank, FDIC sue UPS unit - Dallas Business Journal</strong></p><p></p><p>Less than two weeks before it failed, Millennium State Bank of Texas sued a small-business lending unit of United Parcel Service, claiming UPS duped the bank into making bad loans and knew about kickbacks to a bank executive.</p><p></p><p>The three loans totaling about $10.7 million wouldn’t make or break the failing institution, but it provides a glimpse into how something beyond a sour economy and bad loans may have contributed to the small bank’s demise.</p></blockquote><p></p>
[QUOTE="cheryl, post: 571218, member: 1"] [B]Failed bank, FDIC sue UPS unit - Dallas Business Journal[/B] Less than two weeks before it failed, Millennium State Bank of Texas sued a small-business lending unit of United Parcel Service, claiming UPS duped the bank into making bad loans and knew about kickbacks to a bank executive. The three loans totaling about $10.7 million wouldn’t make or break the failing institution, but it provides a glimpse into how something beyond a sour economy and bad loans may have contributed to the small bank’s demise. [/QUOTE]
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