Zions First National Bank is counting on a seven-line passage in pending regulatory relief legislation to protect a multimillion-dollar investment.

Urged by Salt Lake City-based Zions, Sen. Robert F. Bennett, R-Utah, included the provision in the deregulation bill that the Senate Banking Committee approved last week. Though Zions is not mentioned by name, the amendment was tailored to prevent the bank from having to divest a large portion of its 32% stake in the class A common stock of the Federal Agricultural Mortgage Corp.

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