Valley Federal to Dismantle Unit: Valley Federal...
From Times Staff and Wire Reports
Valley Federal to Dismantle Unit: Valley Federal Savings & Loan in Van Nuys said it will lay off as many as 190 workers, mostly at its All Valley Acceptance Co., or AVAC, unit by June 30. The S&L; will pay Green Tree Acceptance Inc. to service AVAC’s mobile-home loans. The thrift said the move, which was urged by federal regulators, will cut costs.
