“In a normal [commercial] bank acquisition, senior managers usually get a big payday,” said former FHLBank Chicago President Alex Pollock. “But in this case, if you merge [with another FHLB] you could lose your job.”
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In the same new regulatory filing, PHH also noted that Kathryn Ruggieri stepped down as the lender’s chief human resources officer effective June 30…
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The rating service said investors should have access to the reviewer’s findings or access to other information that would help determine if a breach should be pursued.
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