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Control Data is cutting back its finance unit.

June 25, 1985

The ailing Minneapolis-based computer firm said its Commercial Credit subsidiary is getting out of the consumer savings account business in 12 of 16 states. The company said the move reflects an effort to improve the profitability of Commercial Credit. The action will shrink its deposit base by about $600 million, or one-third. The subsidiary's chief businesses are commercial lending and leasing, insurance and consumer finance.

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