Union_Banking_Corporation
The Union Banking Corporation (UBC) was a New York investment bank incorporated in 1924 in the United States. During World War II, under the U.S. Trading with the Enemy Act, the United States government seized the bank's assets pending investigation of the bank's business involving a former party member of the Nazi government in Germany, Fritz Thyssen. The now-former U.S. Senator Prescott Bush was a founding member and is included among its seven directors whose entire collective shareholdings in Union Banking Corp. were shares wholly owned by, and held on behalf of, the Thyssen empire's Bank voor Handel en Scheepvarrt in Rottendam. [1]