WASHINGTON:

THE ADMINISTRATION backed legislation to shield thrift bad-debt reserves from $3 billion in back taxes. But a Treasury official said the tax break shouldn't last forever, because unlimited exemptions for institutions that concentrate on residential lending are risky. Page 2

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.