According to Politico: "Federal regulators Friday shut down the bank owned by the family of Illinois Democratic Senate candidate Alexi Giannoulias. The FDIC estimates the cost to the Deposit Insurance Fund will be $394.3 million."
Alexi Giannoulias has been facing challenges in his Senate race (for the seat once occupied by President Obama), many of them relating to press reports relating to his family's banking business.
While not completely surprising, this development will push this issue further to the center of public attention in Illinois.
I'll post more details and links as they become available.