A bank CEO was charged by the U.S. Attorney for the Southern District of New York with soliciting an appointment as Secretary of the Army or another high-level position by approving millions of dollars in high-risk loans for Paul Manafort. According to the indictment, Stephen Calk, the CEO of mortgage lender Federal Savings Bank of Chicago, was accused with corruptly soliciting an appointment by approving $16 million in loans. Calk's alleged attempt to obtain such an appointment was unsuccessful, and the loans he approved were ultimately downgraded by the bank's primary regulator to "substandard".