Word: federations
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Dates: during 1980-1989
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Last week Citicorp's pursuit of consumer cash paid its biggest dividend so far. After a four-month campaign that in directly pitted it against the only larger U.S. financial institution, San Francisco's BankAmerica Corp. (assets: $121.5 bil lion), the Federal Home Loan Bank Board approved Citicorp's bid to buy the troubled Fidelity Savings & Loan Association of San Francisco. If upheld by the Federal Reserve Board, as expected, the takeover would mark the first time feder al regulators have allowed a bank holding company to cross both state and industry lines to buy a thrift...
...Tuesday afternoon the New York branch of the Federal Reserve called to gether the chairmen of New York City's ten largest banks to discuss the possible repercussions of Chase's refusal to make the interest payment. Officials were very fearful that if Chase persisted, some securities firms might find themselves in a cash squeeze. After the session, the Feder al Reserve issued a statement saying that it "stood ready as a lender of last resort" to help any commercial banks temporarily short of cash. It was the first time since the mini-financial panic following...
While the Business Roundtable has been a particularly effective lobbyist for corporate America in Washington, it is not the only one. The U.S. Chamber of Commerce, the National Association of Manufacturers and the National Feder ation of Independent Business also plead the cause of business, especially for medium-and small-size companies. The Reagan White House is expected to give all these groups equal access. Before his economic message to Congress in February, the President called in representatives from the Roundtable and the other organizations for conversation, coffee and jelly beans. Says James ("Mike") McKevitt, a director of the NFIB...
Legal help was long beyond the reach of most poor Americans. Since the mid-'60s, however, storefront offices staffed by full-time poverty lawyers have sprung up across the country to help alleviate the problem. Some programs, like the feder ally financed West Virginia Legal Services Plan (WVLSP), have added another dimension. Beyond providing staff lawyers, the West Virginia plan also enlists private attorneys to handle cases for poor people...