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RTC Power Upheld: A federal appeals court...

From Times Staff and Wire Reports

RTC Power Upheld: A federal appeals court ruled that the government’s thrift bailout agency, the Resolution Trust Corp., can override state bank branching laws in approving the sale of failed savings and loans. At issue was an RTC regulation that permits banks making emergency acquisitions of insolvent thrifts to operate the branches as bank branches. The RTC argued that it was granted broad rule-making authority by Congress in its mission to maximize returns and minimize losses in resolving failed thrifts.


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