RTC Sells N.Y. Thrift at No Cost to Taxpayers

Last month's resolution of Larchmont Federal Savings and Loan Association, a $126 million-asset mutual in Westchester County, N.Y., was a small step for the Resolution Trust Corp., which has closed 430 thrifts with $136 billion in assets since August 1989. But the Larchmont resolution was a giant leap for taxpayers -- the first to cost the government nothing.

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