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Franklin Savings Association

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 1990

    Disputed government seizure

    Franklin’s seizure became a major legal controversy because a federal district court found no adequate factual or legal basis for the action, while the Tenth Circuit later upheld the government’s position under a deferential interpretation of FIRREA. Later proceedings and a 2011 FDIC stipulation continued to fuel disagreement over whether Franklin had been solvent and capital compliant when taken over.

    Source