Commerce Reeling From Charges in Bond Probe

Engen, John
September 2004
U.S. Banker;Sep2004, Vol. 114 Issue 9, p10
Trade Publication
Reports on the indictment of two Commerce Bancorp Inc. executives on federal charges that they gave a personal loan and various perks to Corey Kemp, former city treasurer of Philadelphia, Pennsylvania, in exchange for city deposits and bond underwriting business. Reaction of Commerce chief executive Vernon Hill; Suspension of the two executives Glenn Holck and Stephen M. Umbrell.


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