The chairman of the House Banking Committee...
The chairman of the House Banking Committee called on federal regulators to dissolve within 60 days a much-criticized agency created 2 1/2 years ago to sell property from insolvent savings institutions. After meeting with Democratic members of the committee, Rep. Fernand J. St Germain (D-R.I.) decided to send a letter to Federal Home Loan Bank Board Chairman M. Danny Wall calling for the speedy abolishment of the Federal Asset Disposition Assn., said a committee spokeswoman who spoke on condition of anonymity. Wall spokesman Karl Hoyle said the bank board, which regulates 3,147 federally insured savings institutions, is unlikely to do away with FADA.
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