Resolution Trust Corp. Oversight

The House Banking Committee on Tuesday approved legislation to abolish the Thrift Depositor Protection Oversight Board. The legislation, introduced by Chairman Jim Leach, would save $250,000 annually, according to Treasury Department estimates.

The board's chief function of overseeing the Resolution Trust Corp. disappeared in 1995 when the RTC was abolished. Other responsibilities- oversight of the Resolution Funding Corp. and membership on the Affordable Housing Advisory Board-would be transferred to the Treasury Department.

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