Federal Agents Raid Taylor Bean & Whitaker
Bank Failures, Current Events, FHA, Meltdown, News | (0)
From the Wall Street Journal:
Federal agents raided the Florida offices of Colonial BancGroup Inc. and wholesale mortgage lender Taylor, Bean & Whitaker Mortgage Corp. on Monday, days after a financial deal between the two firms fell through.
The special inspector general for the $700 billion Troubled Asset Relief Program said its agents had executed search warrants at the two offices in conjunction with the Federal Bureau of Investigation and the inspector general for the Department of Housing and Urban Development. A spokeswoman for the TARP watchdog said the warrants were sealed and could provide no further details about the probe.
Colonial spokeswoman ...
