First Nationwide Timetable Set: First Nationwide Financial...
From Times Staff and Wire Reports
First Nationwide Timetable Set: First Nationwide Financial has been given three months to show federal regulators how it plans to bolster its financial condition, according to an agreement reached between the San Francisco thrift and regulators. First Nationwide, owned by Ford Motor Co., will have to raise additional capital by 1994. Thrift experts believe that it may require another major infusion from Ford, which has already invested $1.2 billion in the struggling thrift. Last week, First Nationwide disclosed that it will be fined an unspecified amount by regulators for failing to document transactions between subsidiaries.
