House Approves 2-Year Extension of S&L; Inquiries
The House on Thursday backed a two-year extension of the government’s pursuit of civil charges against failed savings and loans, including the institution involved in the Whitewater case.
Both houses of Congress have now agreed to extend, through Dec. 31, 1995, the deadline for pursuing fraud and negligence actions.
Republicans were primarily concerned with a Feb. 28 deadline for filing civil actions against Madison Guaranty Savings & Loan.
Madison Guaranty is linked in several ways to Whitewater Development Corp., a real estate venture that was owned by Bill and Hillary Clinton, along with the owner of Madison Guaranty and his wife at the time.
The extension for action by the Resolution Trust Corp. would be added to legislation providing relief for victims of the Northridge earthquake.
The House vote of 390 to 1 came on a motion to instruct its conferees on the earthquake bill to back the extension when a compromise bill is worked out with the Senate.
The Senate voted 95 to 0 on Wednesday to add the extension to the relief bill. The House had passed the earthquake bill without the amendment.
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