2009-08-28 — ocala.com
"The Office of Thrift Supervision has issued a cease and desist order to Platinum Community Bank, owned by former mortgage giant Taylor, Bean & Whitaker, demanding it stop all unsafe or unsound practices.
According to the order issued Aug. 21, those practices include failure to maintain accurate books and records, failure to operate independently from its affiliates, operating with inadequate provisions for liquidity for the deposits held and operating with inadequate funds to protect the assets."
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ronin at 01:51 2009-08-29 said:
As Bob Barker used to say at the Beginning of Truth or Consequences ... "Hello there ... we've been waiting for you!" So Platinum has 5 days to come up with a plan to sell its HFS loans that is a little more specific than "well, we was meanin' to sell those, but now it's hard 'cause we only got 'em when ..." Fill in the blank. The drek is about to hit the dasher. Permalinkadd a comment | go to forum thread
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