Entrance to The Federal Savings Bank
Actually, entrance to the building where The Federal Savings Bank is located. A strange kind of bank, only on the third floor, with a building security employee that won’t let you go up unless you are a member of the bank, plus won’t allow photography in the lobby.
The FSB has been in the news lately for its Trump ties, and allegedly Russian money laundering schemes with Paul Manafort.
Chicago-based Federal Savings Bank wouldn’t comment Tuesday on a report that New York prosecutors have subpoenaed records related to $16 million in loans the institution made to former Donald Trump campaign manager Paul Manafort.
chief executive, Steve Calk, was an economic adviser to Trump's presidential campaign. Manafort is under scrutiny from a special prosecutor and members of Congress for his dealings with Russian interests, part of the wider investigation into ties between Russia and members of Trump's campaign and administration.
Federal Savings Bank made about $6.5 million in loans in January to Manafort and his wife for a Brooklyn property, documents show. That came about a month after Federal Savings lent $9.5 million to Summerbreeze, a limited liability company connected to Manafort, according to 377 Union, a website run by two New York lawyers that is named for the address of the Manafort property in Brooklyn.
The combined $16 million in loans to one borrower represents nearly a quarter of the small bank’s loan portfolio and approaches the level at which regulators would start to think about imposing limits on lending to one customer.