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Banking

June 30, 1993|From Times Staff and Wire Reports

Home Builder to Pay RTC $10 Million: Emerald Homes L.P. of Tucson, Ariz., has agreed to the payment to settle a federal lawsuit accusing it of helping Charles Keating Jr. prop up his tottering Lincoln Savings & Loan. The settlement with the federal Resolution Trust Corp. was approved by U.S. District Judge Richard Bilby. The RTC is in charge of cleaning up the finances of failed savings and loans, including Lincoln, which was closed in 1989 at a record $2.5-billion cost to the taxpayers.

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