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Banking/finance

June 15, 1988|James S. Granelli, Times staff writer

Federal regulators have paid out two-thirds of the record $1.35 billion due depositors at two insolvent Costa Mesa savings and loans that were closed nine days ago.

Working around the clock, regulators have issued 10,052 checks totaling $901.9 million in the first week of refunds to former depositors at American Diversified Savings Bank and North America Savings & Loan.

Regulators are returning deposits within 20 minutes to depositors who appear in person and within 24 hours to depositors who file claims by mail.

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