Report: National City Bank For Sale

[OhioChick]

Source: Newsnet5

POSTED: 8:03 am EDT October 9, 2008
UPDATED: 9:21 am EDT October 9, 2008

CLEVELAND -- One of Cleveland's largest employers, National City Bank, is reportedly for sale.

The Wall Street Journal reports that National City is in talks with several possible buyers.

The bank has struggled over the last year with the collapse of the mortgage market.

Shares of National City stock have plunged over 85 percent so far this year.

Check back here for updates on this story.

Read more: http://www.newsnet5.com/money/17669293/detail.html

[spinbaby]

1. Oh, good

That's where we keep our money. Between this and my 401ks tanking, I'm all ready to retire under that nice interstate overpass.


:grr:

[OhioChick]

2. I'm sorry to hear that...

I got an odd call from National City last week. They asked about a neighbor who had defaulted on a loan and wanted "me" to get a hold of them on behalf of NCB. Told me that if I didn't, I'd continue to get calls from them. I said....You have to be shitting me and spoke to someone in management about harassment.

[spinbaby]

3. Did they stop calling?

We had a sheriff's deputy come by once who wanted us to take a subpoena for a neighbor.

[OhioChick]

4. That's ridiculous.

Yes, after I spoke with someone in management, I haven't received another call.

[EnviroBat]

7. Umm, what the hell?

I would have had some seriously choice words for them. They hold my mortgage, an my accounts. So I'm wondering what the future has in store from me.

[OhioChick]

8. Oh, I had much to say...

They won't be calling me again anytime soon. I don't do any business with them to begin with. From what I understand, the person that called me said they were told to look through the phone book and find neighbors to call who lived close to those who defaulted. WTH is that about??

I'm sorry to hear your mortgage and all is through them. I wish you well.

[sarcasmo]

11. Desperate, all of these banks are digging deep for cash and some upper management tool

decide it was smart to call neighbors, what a nightmare we have entered.

[ikojo]

9. Collection agencies will do a who is search for people

who live near you and will call them and tell them about your debt.

[liberalhistorian]

12. And that is completely and totally illegal

under the Fair Debt Collection Act. Not that that stops a lot of collectrolls and creditors, however.

[Critters2]

10. I called dibs first. Move along!! nt

[David__77]

5. An illustration of why the "bailout" won't work.

It's too late for that. Orderly bankruptcy is the solution.

[Richardo]

6. Great - that's where our mortgage is.

Better check on our escrow account.

[Jim Sagle]

13. What a shame - their radio ad jingle was so kewl.

:sarcasm:

[liberalhistorian]

14. I am not at all surprised to see this,

unfortunately. NCB was my bank for many years when I lived in Ohio, and, quite often, their management was, shall we say, less than competent. I had a heckuva time closing out my account when I moved to SD a few years ago, too, they were horrible about it. I'd say good riddance to bad rubbish, but it affects too many good, innocent people as well who did nothing wrong.