Former Wilmington Trust executive drafts settlement with SEC

DOVER, Del. (AP) — A former executive of the only financial institution to be criminally charged in connection with the federal bank bailout program in the wake of the 2008 financial crisis has reached a settlement with federal securities regulators in a related civil action.

Attorneys for William North and the Securities and Exchange Commission asked a federal judge in Delaware on Tuesday to suspend activity in the SEC’s lawsuit against North pending commission review of the proposed consent judgment.

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