BANKING & FINANCE - Dec. 19, 1995

Former Thrift Owners to Pay $8.5-Million Fine: Husband and wife Russell M. and Rebecca M. Jedinak, former owners of Guardian Savings & Loan, have turned over the money to settle claims stemming from the Huntington Beach S&L;’s 1991 collapse, the Office of Thrift Supervision said. It is one of the largest thrift industry fines for individuals. They also agreed to a lifetime ban from the government-insured banking industry. They did not admit any wrongdoing in paying the restitution earlier this month. The Jedinaks, who previously have refused to talk publicly about the federal takeover, said in a statement that they settled to avoid the high cost of litigation and the interruption of their current mortgage-lending business, Quality Mortgage Inc. in Irvine.