Business Notes: BANKING: Who Will Pick Up the Check?

Who Will Pick Up the Check?

Nobody likes to pay for other people's mistakes -- least of all the bankers at Great Western Financial of Beverly Hills. So the California giant, the third largest savings and loan association in the U.S., with assets of $31 billion, was indignant in 1987, when the fees it pays the Federal Savings and Loan Insurance Corporation for insurance coverage on deposits went up by 150%, to $43 million a year. Healthy S and Ls like Great Western were being forced to subsidize the cash-starved agency's efforts to rescue scores of poorly managed, insolvent institutions.

Last week Great Western announced that it...

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