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IN BRIEF : Bert Lance Accused of Loan Default

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<i> From Times wire services</i>

The Federal Deposit Insurance Corp. has charged former White House Budget Director Bert Lance and a Calhoun company with defaulting on loan payments to a now-defunct Tennessee bank.

The U.S. District Court suit seeks $1.5 million from Lance and Kris Co. Inc. It alleges that Lance and the company defaulted on payments to the United American Bank of Knoxville for four loans and renewal agreements dating to late 1981.

The suit, filed in Rome, was made public Thursday after U.S. District Judge Harold L. Murphy denied a request from the government’s lawyers to keep it secret for 20 days. The government argued that media attention would adversely affect the FDIC’s ability to collect the money.

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Lance said today that he had not seen a copy of the suit. “However, I feel I must comment to the extent that over the course of the last four years, I have made significant payments and good-faith efforts to pay all my debts in full,” he said.

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