Regulators Seize Arizona S&L;: Federal regulators seized...
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From Times Staff and Wire Reports
Regulators Seize Arizona S&L;: Federal regulators seized Pima Savings & Loan Assn., Tucson, Ariz., leaving only four thrifts operating independently in the economically troubled state. Pima was taken over by the Resolution Trust Corp., an agency created last August to sell or close insolvent thrift institutions. The Treasury’s Office of Thrift Supervision rejected as unrealistic Pima’s plan to raise capital to meet the more stringent requirements of last year’s S&L; law.
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