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Constitution Savings Closed: Federal regulators shut down...

From Times Staff and Wire Reports

Constitution Savings Closed: Federal regulators shut down Constitution Federal Savings & Loan in Monterey Park. Depositors, who have $61.9 million in 5,200 accounts, will be paid off starting Monday, said the Resolution Trust Corp., the federal agency managing seized thrifts. There are few uninsured deposits--amounts over $100,000. Holders of those amounts will be paid proportionately with other general creditors from proceeds of the liquidation of Constitution’s $65.6 million in assets.


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