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Article: Thrifts set war chest for fight on fair-lending. (Savings and Community Bankers of America)
- Article from:
- American Banker
- Article date:
- October 18, 1994
- Author:
CopyrightCOPYRIGHT 1994 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ORLANDO The thrift industry has created a $100.000 war chest to fight the Clinton administration's fair-lending initiatives.
Members of the Savings and Community Bankers of America, meeting at Walt Disney World, are most concerned about the Justice Department's aggressive pursuit of banks' fair-lending records, top. trade group officials said.
"To have this 10-ton gorilla called Justice sitting there and saying, 'Well, you may have the approval from your regulators, but we own the jungle' -- I guess we need an elephant gun to get the gorilla," said David E.A. Carson, SCBA's incoming chairman.
"No institution in the country is big enough to fight the Justice ...