BANKING & FINANCE - Sept. 24, 1993
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From Times Staff and Wire Reports
OTS Lifts Order: Glendale Federal Bank said the Office of Thrift Supervision has lifted an order that would have required the thrift to meet higher than average capital levels by the end of 1994. The OTS rescinded the prompt corrective action order because of Glendale Federal’s “dramatically improved capital position,” a result of its $451-million recapitalization last month, thrift Chairman Stephen J. Trafton said. The recision removes a number of operating restrictions on the bank, he said.
