Congress immerses itself this week in legislation designed to rescue the Savings Association Insurance Fund. Two separate bills are being considered in the House. House Banking Committee Chairman Jim Leach, R- Iowa, said he plans to tack his bill onto the budget package that must be enacted before fiscal year 1996 begins Oct. 1.

Rep. Marge Roukema, R-N.J., is writing the other bill, essentially a backup plan in case the thrift fund fix is stripped from the budget bill or it is vetoed by President Clinton. House Banking's financial institutions subcommittee plans to hold a hearing on Rep. Roukema's legislation on Thursday.

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