BANKING & FINANCE - March 17, 1992
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Delay in Closing MCorp Costly, Report Says: Federal regulators pushed up the cost of closing the big Texas bank that failed in 1989 by $1 billion when they failed to act swiftly after serious problems came to light, the financial institutions subcommittee of the House Banking Committee said. The total cost of $2.7 billion ranks MCorp as the third-biggest bank collapse in U.S. history. Separately, a study by the Resolution Trust Corp. said savings and loans taken over by federal regulators may have suffered bigger losses in the government securities market than previously believed.
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