OTS Sues New JH Bank Amid Receivership Action
The Office of Thrift Supervision placed John Hanson Savings Bank in receivership and chartered John Hanson Federal Savings Bank to take its place. The new institution will assume certain assets and liabilities and operate under the Resolution Trust Corp in conservatorship. No interruption to daily operations or insured account holders is expected.
MENTIONED IN THIS ARTICLE
Office of Thrift Supervision
OTS
John Hanson Savings Bank
FSB
Federal Mutual Institution
Beltsville
Maryland
John Hanson Federal Savings Bank
Resolution Trust Corp
John Hanson
Corporate crime guidelines set for corporate fines nationwide
The U S Sentencing Commission adopted guidelines for fining companies unions and organizations after a three year debate. Fines target the greater of financial gain from wrongdoing or losses to victims or a severity table. The measure, awaiting congressional action, also requires restitution and community service, applying to firms unions pension funds and even government bodies.
MENTIONED IN THIS ARTICLE
Washington
U.S. Sentencing Commission
Congress
William W. Wilkins Jr
Commission
Justice Department
Robert
Robert §. Mueller
Richard Thornburgh
National Association of Manufacturers
NAM
Laura Brown
Ernst & Young settles Lincoln Savings case for 1.5 million
Ernst & Young agreed to pay 1.5 million to settle charges it portrayed Lincoln Savings as profitable. The firm placed auditor Francis J. O'Brien on three years probation and barred him from audits for 12 months. California auditors will receive training.
MENTIONED IN THIS ARTICLE
Los Angeles
Lincoln Savings and Loan
California State Board of Accountancy
Ernst &Young
Francis J. O'Brien
Waskoms to Host Sixth Family Life Center Gala Dinner
The sixth annual Family Life Center Gala Dinner will be hosted by Mr. and Mrs. Donavon K. Waskom on Monday May 20 at the FSK Holiday Inn. Barbara Brittain, center director, and Waskoms prepare a supporter list for the non profit aiding Frederick and nearby counties. Local leaders invited as patrons with a $150+ contribution. For tickets call 694 9002.
MENTIONED IN THIS ARTICLE
Family Life Center
Fsk Holiday Inn
Donavon K. Waskom
Waskoms
Barbara Brittain
Frederick
German banker rejects rate reduction in tight policy stance
Karl Otto Poehl, head of the German central bank, rebuffed Bush administration calls to lower rates. He warned that the East German currency conversion boosted money supply and risks of inflation require continued tight monetary policy. The remarks were made at a State Department World Bank meeting amid global recession concerns.
MENTIONED IN THIS ARTICLE
Washington
Karl Otto Poehl
West Germany
Mr. Poehl
United States
Britain
Canada
FDIC fund near insolvency prompts calls for action
GAO chief warns the FDIC insurance fund is far worse off than thought with a possible $3.4 to $5 billion left, urging a $15 billion one time payment this year to avert bankruptcy and Senate action before August recess. FDIC disputes the figures but Seidman warns funds could run out by September.
MENTIONED IN THIS ARTICLE
Washington
Federal Deposit Insurance Corp
Charles A. Bowsher
General Accounting Office
Bowsher
Senate Banking Committee
FDIC
GAO
Treasury
Congress
Donald W. Riegle Jr
Dmich
Alan Dixon
D-Il
L. William Seidman
Augusta Federal in RTC receivership and new savings assoc formed
The Resolution Trust Corp. was named receiver for Augusta Federal Savings Bank as it enters RTC supervision. A new Augusta Federal Savings Association will take control of deposits and assets while RTC seeks a long term remedy, with assets around 157.1 million and liabilities about 160.7 million. Concurrently Singapore Wine Cellars in Mount Airy earned three awards for wines in an San Bernardino competition. Berrywine Meade honey wine earned silver, while 1990 Vidal and 1990 Cayuga picked bronze medals.
MENTIONED IN THIS ARTICLE
Baltimore
Resolution Trust Corp
Augusta Federal Savings Bank
Federal Mutual Association
Augusta Federal Savings Association
Singapore
Mount Airy
San Bernardino
Calif
Berrywine Meade
Augusta Federal
RIC
Augusta Federal Savings
RTC
Congress
S&l
Also Mentioned on This Page
JH Bank
California
Ira Landis
Mort Meyerson
Ernst & Young
New York
Board of Accountancy
Sun Belt
America
Mike Randall
Oklahoma City
Margery Turner
The
Urban Institute
Montgomery County High Technology Council
Clifford Kendall
Lewis Shuster
Biotechnology
Jay Moskowitz
Jack Winters
Jack Harris
John Evans
Stephanie Weisbroth
Ronald Nestor
Lawrence Cunnick
J. Richard Crout
William Stasier
J.D. Murphy
C.E. Valez
Century 21
Wotay
Turner
New Orleans
Houston
New York City
Chicago
Detroit
First Bank of Frederick
Jon Helfenstein
Rose Hill Plaza
Opossumtown Pike
Frst Bank of Frederick
Ederick News Post
FAY Associates, Inc
FCNB
Frederick County
Frederick County National Bank
Sho New
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