BANKING & FINANCE - March 7, 1992
From Times Staff and Wire Reports
RTC Seeks Damages From Accountants: The Resolution Trust Corp. said it is seeking $250 million in damages from two accounting firms over their audits of two savings and loans whose failures cost taxpayers more than $1 billion. The thrift bailout agency said it filed a $150-million suit against Deloitte & Touche of Wilton, Conn., and its partners in connection with audits of the failed Otero Savings & Loan Assn. of Colorado Springs, Colo. The RTC said it has also filed a $100-million complaint against KPMG Peat Marwick of New York and its partners in connection with audits of the failed Hill Financial Savings Assn. of Red Hill, Pa.
