Nation IN BRIEF : NEW YORK : Texas Thrift Buyer’s Bank Deal Disclosed

A man who bought 15 Texas savings and loans using only $1,000 of his own money and $70 million in loans also bought an Oklahoma bank at a good price despite failing to disclose he’d been indicted for securities fraud, the New York Times said in its Sunday editions. James M. Fail was able to buy the United Oklahoma Bank, later renamed the Oklahoma Bank, without filling out a required form, the paper said. The Phoenix man bought the bank and its approximately $100-million worth of assets for $500,000, which he borrowed, according to the Times.