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Report: National City On ‘Probation’ With Banking Regulators 

Ohio-based National City Corporation [stock NCC][/stock] has quietly entered into a “memorandum of understanding” with the Office of the Comptroller of the Currency, according to a published report Friday morning. The bank has been hit hard by both HELOC and subprime loans on its books, among other things; National City said in late April that it would raise $7 billion in fresh capital, as non-performing assets have soared in recent months.