The State - News from Sept. 4, 1988

Federal regulators said that discussions continue on the possible sale of troubled American Savings & Loan to investors led by Texan Robert M. Bass. The Federal Home Loan Bank Board, which regulates S&Ls;, said a further announcement is planned for Monday. Negotiations to sell the California savings and loan, the nation’s second largest, have dragged on past several self-imposed deadlines amid mounting congressional skepticism over terms of the deal. The talks apparently revolve around how much federal assistance will be provided. American S&L;, based in Stockton, is the operating subsidiary of Financial Corp. of America in Irvine.