Sen. D'Amato puts fix for S&L fund on front burner

Senate Banking Committee Chairman Alfonse M. D'Amato told bankers that he supports a rescue plan for the Savings Association Insurance Fund (SAIF) that will require banks to pay a portion of the costs. The $6 billion plan would require banks to pay 75% of interest due on Financing Corp bonds issued for the 1987 savings and loan rescue. The plan would also merge bank and thrift insurance funds and require thrifts to capitalize the SAIF with a one-time fee.
Sen. Alfonse M. D'Amato made clear Friday that he supports a $6 billion rescue for the Savings Association Insurance Fund - and he bluntly told bankers they must pay part [...]