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Regulator Blasts Secret Thrift Settlements: William D....

From Times Staff and Wire Reports

Regulator Blasts Secret Thrift Settlements: William D. Davis, commissioner of the California Department of Savings and Loan, criticized his federal counterparts for keeping confidential the details of recent settlements of lawsuits in the failures of two high profile Orange County thrifts, American Diversified Savings Bank and Consolidated Savings Bank. “I think the taxpayers are entitled to know how the litigation came out,” Davis said. Officers of the thrifts recently settled civil charges that included fraud.


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