LEXINGTON, Ky. - The president of the Independent Bankers Association of America blasted the American Bankers Association last week for "keeping its head in the sand" on the deposit insurance premium controversy.

Richard L. Mount, president of the IBAA, said the ABA's approach to this issue will probably result in banks' having to share the cost of recapitalizing the Savings Association Insurance Fund, the thrift industry's deposit insurer.

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