A Jan. 4 article, "GAO Audit Supports RTC in Loan Pricing Dispute" (page 6), incorrectly described the matter at issue between the government and United Bank of Philadelphia.

United is suing over deductions the Resolution Trust Corp. made from payments to the bank.

The article reported that the deductions represent interest on a loan for buying assets from the agency. In fact, the bank did not take that loan, and never bought the assets.

The government says the deductions reflect RTC funding of branch deposits it sold to the bank.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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