WASHINGTON - Taking strong exception to a senior U.S. Treasury official, House Banking Committee Chairman Jim Leach said the $25 billion in the bank insurance fund belongs to the industry and not Uncle Sam.

"The insurance fund is a trusteeship fund which can be used only to support problems in the financial structure of insured institutions," Rep. Leach, R-Iowa, said Monday. "It is not the property of the United States government to be used willy nilly for any other purpose."

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