The New York State Banking Department will examine a controversial loan made by a New York unit of Fleet Financial Group to the 1992 U.S. Senate campaign of City Comptroller Elizabeth Holtzman, a state government source said.

The banking department, which regulates state-chartered banks, said it wants to determine whether Fleet's Long Island bank affiliate followed "proper loan guidelines" in making the $450,000 loan to the Holtzman campaign.

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