Word: loan
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Dates: during 1960-1969
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Next week a first report on ways of strengthening the savings and loan laws is due from a state task force of businessmen and S. & L. officials. "What is done with their recommendations will show whether the state means business," says Jedlicka with a seasoned newsman's skepticism...
SAVINGS & LOAN...
Booming along with the demand for home mortgages, the nations' savings and 'loan associations have grown phenomenally. In the past 25 years, their assets have risen nearly 20 times over, to $107 billion. Today they hold more than one-fifth of the nation's personal savings, finance nearly half of its homes. But signs are cropping up that the long-green years are over. Last week, at the annual meeting of the American Savings and Loan Institute in Washington, S. & L. leaders weighed some disturbing statistics. Compared with last year, the net inflow of savings into federally...
...Adolescence. Concerned about the troubled fringe of the S. & L. business, Chairman Joseph Patrick McMurray of the Federal Home Loan Bank Board-which is to the S. & L.s roughly what the Federal Reserve is to the commercial banks-this year raised the associations' reserve requirement and clamped restrictions on the interest-rate warfare. With these moves, McMurray, a former Government economist and assistant to the late Senator Robert Wagner, has cooled the race for depositors but has brought bitter complaints from many S. & L. leaders. Government officials, however, believe that the new rules will let the S. & L.s grow...
...high living, heavy imports and inflation has stalled the nation's fast postwar growth. The Milan stock market has dived, the lira has been trembling on world markets, and two weeks ago the U.S., the International Monetary Fund and the World Bank backed a $1.2 billion emergency loan to shore up the Italian economy. Last week, after the Italian Senate approved a stabilizing program that restricts installment-buying and raises taxes on cars and gasoline, automaking Fiat and Innocenti threatened to fire thousands of workers. Olivetti also announced cutbacks and layoffs. But amid these signs of protest and trouble...