National City Corp. signed a memorandum of understanding with the Office of the Comptroller of the Currency over the past month, according to a published report in Friday's Wall Street Journal. The agreement follows a push by the regional bank into subprime and home-equity loans. National City also had a successful effort to raise capital that resulted in a $7 billion infusion in April that was funded by investors led by Corsair Capital, according to Journal report. Memoranda of understanding are not publicly disclosed documents and the terms of the agreement with the OCC are unknown, according to the Wall...
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