Word: morthland
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Furious Bankers. Many commercial bankers are furious. The savings-bank payment order, says Rex J. Morthland, president of the American Bankers Association, "is a blatant violation of the spirit and the letter of the historic distinction between savings and checking accounts." The ABA last week asked the Federal Deposit Insurance Corp. to let commercial banks also pay 5¼% interest on savings...
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