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Great Western Will Appeal Ruling: Great Western Financial...

June 28, 1989

Great Western Will Appeal Ruling: Great Western Financial said it will appeal a court ruling that would prevent its main subsidiary from leaving the Federal Savings and Loan Insurance Corp. and joining the Federal Deposit Insurance Corp. The ruling came after Great Western sued last month to overturn a decision by the Federal Home Loan Bank Board, which had turned down a request by FSLIC-insured Great Western Bank to merge with its FDIC-insured affiliate in the state of Washington. Great Western asked the Los Angeles court to declare the regulatory decision unlawful and approve the merger. Great Western will now ask the same court to reconsider its ruling.

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