Byline: Washington Post
WASHINGTON The House Banking Committee is near agreement on a plan that would eliminate the federal savings and loan industry requiring existing institutions to become either national banks or state-chartered thrifts, and closing down the federal Office of Thrift Supervision, according to industry and congressional sources.
The provision, which is expected to be approved by the full committee today as part of its contribution to the overall budget reconciliation bill, was put on the fast track last week when congressional budget writers discovered it would raise $5 billion in additional revenue for next year, these sources …
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