U.S. Restricts San Clemente Thrift: The federal...
From Times Staff and Wire Reports
U.S. Restricts San Clemente Thrift: The federal Office of Thrift Supervision has restricted operations of San Clemente Savings Bank because it does not meet recently enacted capital requirements. The restrictive order prohibits the San Clemente-based S&L; from declaring dividends, increasing executive salaries, making single-family home loans of more than $300,000, selling large assets without regulatory approval or transacting business with affiliated parties.
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