Help for US banks passes the Senate

Legislation designed to aid financially troubled US savings institutions passed the Senate Thursday, Monitor writer Thomas Watterson reports.

The bill, approved by a joint House-Senate conference committee earlier this week, is expected to be approved in the House before the current session ends this weekend, and then signed by President Reagan.

Passage of the bill ends a two-year fight by the savings industry for government help to relieve the pressures of high interest rates and low-earning home mortgages and other consumer loans.

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