Won’t Resign, Chief U.S. Thrift Regulator Says

M. Danny Wall, the nation’s chief thrift regulator, said today that he does not intend to resign, despite a call from the chairman of a House committee that he step aside for his handling of the Lincoln Savings & Loan Assn. case.

Wall, appearing on NBC’s “Today” show, said he will respond to questions of the House Banking Committee, which is investigating the failure of the Irvine, Calif., thrift.

Lincoln was seized by regulators in April and is expected to be the nation’s most costly failed thrift.

“We will respond to the questions, and they will then have an opportunity to consider the facts,” said Wall, who is scheduled to testify before the House Banking Committee on Nov. 21.

Meanwhile today, the Banking Committee postponed for two weeks compelling thrift executive Charles H. Keating Jr. to testify on the collapse of his bank.

Attorneys for the Phoenix millionaire were served with a subpoena today ordering Keating to appearing before the Banking Committee on Nov. 21.

Keating originally was scheduled to testify before the committee Tuesday.