WASHINGTON - President Clinton on Wednesday signed into law the American Homeownership and Economic Opportunity Act of 2000, a catch-all package of banking and housing measures.

The new law contains about 20 regulatory relief provisions for banks and thrifts, including one that repeals a requirement that at least 4% of a thrift's assets be easily liquidated. It also gives national banks more flexibility in electing a board of directors by allowing staggered terms of up to three years. Under previous law, national bank directors were elected simultaneously for one-year terms.

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