WASHINGTON - Treasury Department officials are scrambling to quell fears that money paid to capitalize the Savings Association Insurance Fund will not be tax deductible.

Questions from key lawmakers about the deductibility of the 85 basis- point fee alarmed industry executives last week, setting off a series of calls to administration officials. Losing the tax writeoff could add about $2 billion to the thrift industry's tab.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.