Regulators Seize Thrift: Empire of America Federal...
From Times Staff and Wire Reports
Regulators Seize Thrift: Empire of America Federal Savings Bank, the 17th-largest savings and loan in the United States, which has been losing millions of dollars since it bought out 13 failing thrifts around the country, was seized by federal regulators. The government transferred control of the Buffalo, N.Y.-based S&L; to the Resolution Trust Corp., a federal agency created in August to dispose of all failed savings institutions. Empire of America has 125 branches in New York, California, Florida, Michigan and Texas.
