The State - News from April 9, 1985

A San Francisco-based savings and loan association bowed to pressure and decided for the time being to forgo paying higher interest rates on Individual Retirement Accounts belonging to women. But attorney Bernard Schoenberg, who represents Continental Savings of America, said he still intends to go to court to prove that the firm can legally offer lower rates to male IRA depositors. In the meantime, Continental will pay the same 11.5% rate to men that women were offered last month. The state attorney general’s office had threatened to press discrimination charges under the state’s Unfair Business Practices Act.