Oregon Thrift Seized: Benjamin Franklin Federal Savings...
From Times Staff and Wire Service Reports
Oregon Thrift Seized: Benjamin Franklin Federal Savings & Loan Assn., Oregon’s largest thrift, was seized by regulators who said it failed to meet stringent new financial standards for S&Ls.; The Resolution Trust Corp. took control of the Portland institution, which has about $5 billion in assets, after the Office of Thrift Supervision said Franklin was operating in an unsafe and unsound condition. Franklin, largely because of the new capital standards, was $106 million in the red at the end of November.
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