|
|
Article: Thrift Regulators Increase Restrictions on Chevy Chase; Agreement Aimed at Restoring S&L's Health
- Article from:
- The Washington Post
- Article date:
- October 26, 1991
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
|
Chevy Chase Federal Savings Bank, the area's largest savings
and loan, said yesterday it has entered into a formal supervisory
agreement with federal regulators aimed at returning the S&L to
sound financial health.
In a public announcement, a rarity for the privately held
thrift, Chevy Chase acknowledged for the first time that its
financial woes could force it to seek a merger or acquisition
partner.
Two months ago Chevy Chase disclosed it had fallen below
federal standards for financial soundness and was subject to
increased scrutiny by the Office of Thrift Supervision (OTS), which
oversees the nation's savings and loans.
Under the agreement, Chevy Chase said it will not pay ...