Dupage Policy Journal

Dupage Policy Journal

Tuesday, December 10, 2019

Report: Feds demanded bank cease "insider dealings" and "golden parachute payments" under COD trustee candidate's watch

By DuPage Policy Journal Reports | Mar 24, 2015

Cod seal

A bank run by College of DuPage trustee hopeful Matt Gambs was once reprimanded by federal regulators, accused of engaging in "unsafe or unsound business practices" in a 2010 Order to cease and desist issued by the Office of Thrift Supervision.

The order was first reported by the Edgar County Watchdogs, who run a popular blog that covers Illinois politics and government.

Gambs, of Naperville, served as CEO of the Schaumburg-based Diamond Bank from 2008-2014, according to his Linkedin profile. He's a veteran banking executive who currently works for Wintrust Financial, which bought Diamond in 2013.

The College of DuPage Board of Trustees is currently under fire for approving a "golden parachute" payment of $763,000 to school president Robert Breuder.

Gambs is one of twelve candidates vying for a trustee slot. The others include Claire Ball of Addison, Charles Bernstein of Wheaton, Joseph Wozniak of Naperville, Nancy Svoboda of Downers Grove (incumbent), Frank Napolitano of Bloomingdale, Kim Savage of Darien (incumbent), Roger Kempa of Darien, Dave Carlin of Naperville, Deanne Mazzochi of Elmhurst, Sandy Pihos of Glen Ellyn, and Dan Bailey of Wheaton.

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Organizations in this Story

College of DupageCollege of DuPage Board of Trustees