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I know that with the world falling apart and with the FCA activities you been dealing with, you haven't had a chance to give me a call on Lincoln following your discussion with the Chm. as we had previously agreed. I was disturbed, however, to hear that you have scheduled a meeting with Lincol and Litigation to which neither I nor anyone on my staff have been invited My understanding of this whole exercise was that ORPOS was undertaking an independent review of our findings on Lincoln in response to Lincoln's apparent assertion that they were being harrassed by us. You reported to that you were satisified that we were correct in our assessment of the ri posed by Lincoln and that you were pleased that our people didn't fit the image of irresponsibility being portrayed by Lincoln. I understand, on the basis of Al's call to Richard Sanchez, that you have informed the Chm. of findings and that he is supportive of corrective supervisory action.
It seems to me that, having put to rest Lincoln's unfounded claims of bià: our part, you would inform them of your findings and the case would be returned
to us for decisions on what kind of supervisory action was appropriate ar for execution of that decision. In fact, you previously informed me that case would be turned back over to us at the conclusion of your review. I understand that you intend not only to tell Lincoln of the conclusions of review, but to proceed to decide and negotiate the corrective action you t appropriate. If my understanding is correct, I object to this approach in strongest possible terms. Neither you nor OE knows this case nearly as we. as we. Neither you nor OE is a better supervisor than we. Neither you nor (to the best of my knowledge today) will have ongoing responsibility for Lincoln after the present storm has blown over. Plain and simply, you shou inform Lincoln of the results of your independent review and get out of tr case. We will not lose sight of the sensitivity of the case, nor will we + to keep you informed every step of the way. In fact, I will invite you to one of your staff join our team and participate in all discussions with Lincoln. But we, not you, should be running this case.
This matter is important as a matter of principle. It is important for our credibility as supervisors of institutions in this district.
Lincoln. but we,
This matter is important as a matter of principle. It is important to credibility as supervisors of institutions in this district.
SUMMARY: The Federal Home Loan Bank Board ("Board"), as the operat-
DATE: Comments must be received by (the 60th day following publication of this notice in the Federal Register).
ADDRESS: Send comments to Director, Information Services Section,
FOR FURTHER INFORMATION, PLEASE CONTACT: Steven A. Rosenberg,
SUPPLEMENTARY INFORMATION: During the past few years, changes in
Of 29 lawsuits involving Lincoln Savings and Loan Association, 16
Of the two complaints involving American Continental Corporation,
There were 22 non-soils litigation cases in 1985, of which 10 have
Expansive Soils Problems:
There are 22 soils litigation cases currently pending and 4
1. To remain current on legislative and regulatory developments and to assure protection of our specific interests in these areas, significant contacts have been continued within the following:
House Banking Committee
National Association of State Savings & Loan Supervisors
1. Committee on Government Relations
2. Committee on Legislative and Regulatory Affairs U.S. League of Savings Institutions
Elected to the Board of Directors of the National Council of
Elected to the Board of Directors of the National Association
Became active in (1) American Bankers Association; (2) the National Association of Thrift Holding Companies; (3) the Arizona League of Savings Institutions; and (4) The American Bar Association's Committee on Financial Institutions Lobbying efforts have created relationships with, and endorsements by, the National Council of State Legislators and the National Conference of Governors.
Activity Relating. Specifically to the Federal Home Loan Bank Board's Direct Investment Regulation includes:
Working with Congressman Annunzio's staff resulting in the introduction by Congressman Annunzio of H. Con. Res. 34 January 21, 1985 (the anti-direct investment regulation resolution)
Active lobbying of state savings and loan leagues and
Working with Congressman Pashayan in soliciting co-sponsors
Coordination of lobbying efforts with the National
Coordination with Paul, Weiss and Congressman Pashayan of