A Call for Easier Thrift Conversions
Q&A Patrick Forte, president of the 40-member Association of Thrift Holding Companies, says Congress should make it much easier for S&Ls to convert to banks in order to attract capital to the industry. Not only that, more customers would be attracted to S&Ls if they had the power to switch charters, he told Washington bureau chief Jim McTague. Mr. Forte hopes a streamlined charter conversion process will emerge in the banking reform bill now wending its way through Congress.