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Vernon Savings and Loan (Dallas, TX), led by Don Dixon, which on resolution had 94 percent of loans non-performing; and; Columbia Savings and Loan (Beverly Hills, CA), led by Thomas Spiegel, was closed in January 1991 at the cost of $3.25 billion. [87] Especially publicized was the insolvency of Lincoln Savings and Loan Association, led by ...
In 1984, Gibraltar Savings was acquired by First Texas Financial Corporation. FTFC, which had acquired First Texas Savings Association in Dallas in 1982, was controlled by nursing home developer J. Livingston Kosberg. [3] An investor in FTFC was lawyer and political power broker Robert S. Strauss, who owned 10% of the stock. His son, real ...
This category contains articles related to the savings and loan crisis (1986-1995) in the United States. Pages in category "Savings and loan crisis" The following 37 pages are in this category, out of 37 total.
As a result, a wave of local, federally-chartered savings and loans developed around the U.S. Backed by low-cost government funding, the S&Ls were able to offer long-term home loans at fixed ...
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While most of us were alive 20 years ago, peoples' memories of the savings and loan crisis of the early 1990s have faded. But more than 1,000 so-called savings & loans -- banks specifically set up ...
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s. It established the Resolution Trust Corporation to close hundreds of insolvent thrifts and provided funds to pay out insurance to their depositors.
Franklin Savings Association was an Ottawa, Kansas-based American Savings and loan association that was one of the largest seizures of the savings and loan crisis. Subsequent litigation established that the institution had always been in full capital compliance, a fact to which the FDIC stipulated in 2011, after 21 years of legal challenges by ...