CBS Evening News for Wednesday, Dec 26, 1984
View other clips in this broadcast →
Material supplied by VTNA may be used for educational analysis or research only. Any editing, reproduction, publication, rebroadcast, public showing or public display may be prohibited by copyright laws.
(Studio) Report introduced
REPORTER: Dan Rather
(Tulsa, Oklahoma) Loss of retirement savings of Loretta and Dwight Crofford when California's Western Community Money Center failed in spring noted. Money Center cited as ex. of insts. that act like banks but aren't banks and aren't covered by fed. deposit insurance [Loretta CROFFORD - comments.] Details given with regard to recent bankruptcies of 4 bank-like insts. in past 21 months. Photos shown of insts. in Tennessee, Oklahoma, California and Nebraska. Failure of Commonwealth Savings Company in Nebraska noted. [MAN - comments.] [Dwight CROFFORD - discusses own situation.] [2nd MAN - questions California system.] [California department of corps. spokesperson Jack CARLSON - comments.] Varying reactions of state regulatory agencies stated. Situation with Oklahoma's Republic Bank Corporation noted. [Oklahoma banking commissioner Robert EMPIRE - comments.] [Former US attorney Frank KEATING - comments on some older people's investment to supplement Social Security] Customer Elva Oman's mistaken impression of Republic companies' association with Republic Bank cited. [OMAN - comments.]
REPORTER: Jane Bryant Quinn
Note to sponsor members: The Vanderbilt Television News Archive video player requires a modern operating system and browser to work properly. If you are experiencing playback problems, check the minimum requirements and adjust your setup accordingly. After adjustments, if you continue to experience problems, please contact us.
Welcome! Above is the abstract of the item that you're interested in viewing from the Vanderbilt Television News Archive's collection. You have three options if you'd like to view this item:
If you believe that you are associated with a sponsoring college or university and have received this message in error, please let us know.