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BUSINESS
June 7, 1989 | From Times wire service s
The Federal Reserve Board today opposed legislation to make it disclose numerical ratings on how well banks and other financial institutions lend money for community needs, particularly low-income housing, small business and small farm loans. Martha R. Seger, one of the Fed's seven governors, told a Senate subcommittee that the Community Reinvestment Act ratings, if released publicly under legislation by Sen. Howard M. Metzenbaum (D-Ohio), could be "misunderstood" as a reflection of financial soundness and "undermine public confidence in the safety of deposits in an institution."
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BUSINESS
August 3, 1995 | From Associated Press
Federal Reserve Board Chairman Alan Greenspan voiced support Wednesday for giving the nation's savings and loan banks broader powers, saying they should not be required to specialize in home mortgages. Greenspan, testifying before a House Banking subcommittee, is one of five top banking regulators discussing remedies for the thrift industry's depleted deposit insurance fund. The Savings Assn.
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BUSINESS
July 22, 1986
The brokerage firm filed the suit in federal courts in New York and Houston, charging that the Houston businessmen defrauded it of $48 million by settling an earlier disagreement last year with a promissory note collateralized by worthless stock in two insolvent savings and loan associations. The defendants include Houston mortgage banker George Aubin and J. B. Haralson, the principal of the two thrifts. E. F.
BUSINESS
June 4, 1992 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
The nation's top thrift regulator said Wednesday that the government will seize four or five crippled savings and loan associations by the end of the week because Congress has refused to provide funds to sell the troubled institutions to private buyers. Timothy Ryan, director of the Office of Thrift Supervision, said the takeovers will continue weekly through a roster of 45 S&Ls with $38 billion in assets. He refused to identify any of the S&Ls targeted for takeover.
BUSINESS
June 13, 1989 | ROBERT A. ROSENBLATT
Goodwill, a key issue in the debate over financial rules for savings and loan associations, is the value of a going concern over and above the value of its assets. Many businesses assign a goodwill value to such things as the general good reputation of the company and its history in the community. When healthy S&Ls have taken over sick institutions in the past few years, some of them received direct financial assistance from the federal government and some goodwill certificates.
BUSINESS
July 10, 1988
Regarding the July 6 story, "Beverly Hills S&L Chairman Ousted; Director Resigns: Feud With Thrift Regulators Over Sale of Problem Assets Reportedly Behind Shake-Up": I wish to clarify the situation with regard to Tom Carter's leaving the board of directors and chairmanship of Beverly Hills Savings. Federal Home Loan Bank President Jim Cirona and I both have the highest regard for Carter's abilities, integrity and accomplishments. His resignation from the board was requested solely because his new position with Great American First Savings Bank could pose conflicts of interest with his position on the Beverly Hills Board.
BUSINESS
June 4, 1992 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
The nation's top thrift regulator said Wednesday that the government will seize four or five crippled savings and loan associations by the end of the week because Congress has refused to provide funds to sell the troubled institutions to private buyers. Timothy Ryan, director of the Office of Thrift Supervision, said the takeovers will continue weekly through a roster of 45 S&Ls with $38 billion in assets. He refused to identify any of the S&Ls targeted for takeover.
BUSINESS
August 3, 1995 | From Associated Press
Federal Reserve Board Chairman Alan Greenspan voiced support Wednesday for giving the nation's savings and loan banks broader powers, saying they should not be required to specialize in home mortgages. Greenspan, testifying before a House Banking subcommittee, is one of five top banking regulators discussing remedies for the thrift industry's depleted deposit insurance fund. The Savings Assn.
BUSINESS
March 11, 1992 | From Associated Press
The savings and loan bailout agency paid $251.5 million last year to nearly 2,000 private law firms as part of the government's effort to clean up the thrift crisis. The New York law firm Cravath, Swaine & Moore received the most from the Resolution Trust Corp.-$12.12 million in fees and expenses. The firm has represented the RTC in lawsuits against Michael Milken and other former employees of the Drexel Burnham Lambert Inc. investment firm.
BUSINESS
November 2, 1985
Chase Manhattan, which bought the three ailing savings and loan associations, was prepared for long lines of worried depositors ready to close their accounts when the doors opened Friday morning. But customers of the thrifts appeared relieved that the big New York bank took over the associations, which have been under restrictions limiting withdrawals since a state banking crisis in May.
BUSINESS
March 11, 1992 | From Associated Press
The savings and loan bailout agency paid $251.5 million last year to nearly 2,000 private law firms as part of the government's effort to clean up the thrift crisis. The New York law firm Cravath, Swaine & Moore received the most from the Resolution Trust Corp.-$12.12 million in fees and expenses. The firm has represented the RTC in lawsuits against Michael Milken and other former employees of the Drexel Burnham Lambert Inc. investment firm.
BUSINESS
June 13, 1989 | ROBERT A. ROSENBLATT
Goodwill, a key issue in the debate over financial rules for savings and loan associations, is the value of a going concern over and above the value of its assets. Many businesses assign a goodwill value to such things as the general good reputation of the company and its history in the community. When healthy S&Ls have taken over sick institutions in the past few years, some of them received direct financial assistance from the federal government and some goodwill certificates.
BUSINESS
June 7, 1989 | From Times wire service s
The Federal Reserve Board today opposed legislation to make it disclose numerical ratings on how well banks and other financial institutions lend money for community needs, particularly low-income housing, small business and small farm loans. Martha R. Seger, one of the Fed's seven governors, told a Senate subcommittee that the Community Reinvestment Act ratings, if released publicly under legislation by Sen. Howard M. Metzenbaum (D-Ohio), could be "misunderstood" as a reflection of financial soundness and "undermine public confidence in the safety of deposits in an institution."
BUSINESS
July 10, 1988
Regarding the July 6 story, "Beverly Hills S&L Chairman Ousted; Director Resigns: Feud With Thrift Regulators Over Sale of Problem Assets Reportedly Behind Shake-Up": I wish to clarify the situation with regard to Tom Carter's leaving the board of directors and chairmanship of Beverly Hills Savings. Federal Home Loan Bank President Jim Cirona and I both have the highest regard for Carter's abilities, integrity and accomplishments. His resignation from the board was requested solely because his new position with Great American First Savings Bank could pose conflicts of interest with his position on the Beverly Hills Board.
BUSINESS
July 22, 1986
The brokerage firm filed the suit in federal courts in New York and Houston, charging that the Houston businessmen defrauded it of $48 million by settling an earlier disagreement last year with a promissory note collateralized by worthless stock in two insolvent savings and loan associations. The defendants include Houston mortgage banker George Aubin and J. B. Haralson, the principal of the two thrifts. E. F.
BUSINESS
February 5, 1993 | Bloomberg Business News
The Resolution Trust Corp., as part of its responsibility for liquidating the assets of failed savings and loan associations, will auction $600 million in non-performing loans next month. The March auction will include a bull sperm bank, a Texas mansion and a rabbit farm.
BUSINESS
January 7, 1985
Savers deposited $5.9 billion more in savings and loan associations than they withdrew, a slightly smaller gain than in October, the Federal Home Loan Bank Board said. In October, there were $6 billion more in deposits than withdrawals.
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