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FEDERAL APPEALS COURT ISSUES JUDGMENT AGAINST TRANSOHIO SAVINGS BANK

FEDERAL APPEALS COURT ISSUES JUDGMENT AGAINST TRANSOHIO SAVINGS BANK
 WASHINGTON, June 12 /PRNewswire/ -- A federal appeals court today upheld a lower court decision that required Transohio Savings Bank, Cleveland, to comply with regulatory capital standards set by Congress in 1989.
 The U.S. Court of Appeals for the District of Columbia Circuit affirmed a ruling issued by U.S. District Court Judge Norma Holloway Johnson in August 1991. Johnson had denied Transohio's request for a preliminary injunction requiring regulators to give the institution credit for $107.5 million in goodwill it assumed in two 1986 mergers with troubled thrifts. The injunction request was part of a lawsuit Transohio filed against the Office of Thrift Supervision (OTS) in July 1990. The suit remains pending in the district court.
 The appeals court ruled that prior forbearance agreements "did not prevent Congress from establishing new capital accounting rules and ordering federal agencies to enforce them."
 -0- 6/12/92
 /CONTACT: Marc Adams of the Office of Thrift Supervision, 202-906-6677/ CO: Office of Thrift Supervision; Transohio Savings Bank ST: District of Columbia, Ohio IN: FIN SU:


IH -- DC027 -- 9863 06/12/92 17:14 EDT
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Publication:PR Newswire
Date:Jun 12, 1992
Words:191
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