Stanford Law Library 3 6105 062 172 999 COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS DONALD W. RIEGLE, JR., Michigan, Chairman PAUL S. SARBANES, Maryland CHRISTOPHER J. DODD, Connecticut RICHARD C. SHELBY, Alabama JOHN F. KERRY, Massachusetts BARBARA BOXER, California BEN NIGHTHORSE CAMPBELL, Colorado ALFONSE M. D'AMATO, New York CHRISTOPHER S. BOND, Missouri LAUCH FAIRCLOTH, North Carolina STEVEN B. HARRIS, Staff Director and Chief Counsel MARK A. KAUFMAN, Financial Policy Analyst (II) Response to written questions of Senator Riegle Jonathan L. Fiechter, Acting Director, Office of Thrift Supervision, Washing- Response to written questions of Senator Riegle Response to oral questions of Senator D'Amato .......... William J. Drumm, superintendent, Division of Savings and Loan Associations and Division of Savings Banks, State of Ohio, Columbus, OH Prepared statement Background information Increasing capital requirements and the savings bank charter Mutual ownership of savings banks Mutual-to-stock conversion activity Summary discussion Response to written questions of Senator Riegle David E. A. Carson, chairman, president, and chief executive officer, People's Page 17 52 52 53 53 53 54 54 80 Bank, Bridgeport, CT; testifying on behalf of Savings and Community Prepared statement 19 61 Response to written questions of Senator Riegle Chris Lewis, banking and housing policy director, Consumer Federation of Prepared statement 82 21 66 Principle concerns Growing problem The insider's outside friends Supervision? Recommendations on S. 1801 Conclusion 66 67 67 68 68 69 |