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Help for US banks passes the Senate

Legislation designed to aid financially troubled US savings institutions passed the Senate Thursday, Monitor writer Thomas Watterson reports.

The bill, approved by a joint House-Senate conference committee earlier this week, is expected to be approved in the House before the current session ends this weekend, and then signed by President Reagan.

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Passage of the bill ends a two-year fight by the savings industry for government help to relieve the pressures of high interest rates and low-earning home mortgages and other consumer loans.

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