HomeMy WebLinkAboutMINUTES - 10091984 - T.1 THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Order on October 9, 1984 , by the following vote:
AYES: Supervisors Powers , Fanden , Schroder , Torlakson
NOES: None
ABSENT: Supervisor McPeak
ABSTAIN: None
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SUBJECT: Western Community Money Center
Depositors' Request for Assistance
Mr . Bill Sullivan appeared before the Board representing
approximately three thousand Western Community Money Center deposi-
tors , who have formed a non-profit organization known as Fairness in
Banking Standards (FIBS) , and thanked the Board for its support on
behalf of the depositors . He informed the Board that the depositors
have been unsuccessful in their attempts to have their full deposits
returned by the State Department of Corporations , and that many of
the depositors , particularly the senior citizens , are in a critical
financial situation . He stated that the depositors feel that the
Department of Corporations has failed to maintain the public trust ,
and he requested the Board' s assistance in an appeal to Governor
Deukmejian to immediately resolve this critical situation,
Supervisor Nancy Fanden stated that she felt that a public
forum with our State elected officials would be useful in getting
the facts to the public , y
Supervisor Tom Torlakson expressed his agreement and stated
that an investigation into why the Department of Corporations failed
to adequately inform the public seemed to be in order .
Supervisor Robert Schroder stated that he felt that a
request should be forwarded to Governor Deukmejian , calling upon him
for an immediate resolution of the situation.
Supervisor Tom Powers expressed his agreement and moved that
a request for his immediate assistance be forwarded to the Governor ,
and that the State Legislators be requested to participate in a public
forum on monitoring of the thrift industry and developing reforms .
Board members being in agreement , IT IS BY THE BOARD ORDERED
that the Chairman is AUTHORIZED to execute a letter to Governor
Deukmejian requesting his assistance in assuring immediate release of
funds to depositors of the Western Community Money Center .
IT IS FURTHER ORDERED that the Chairman is AUTHORIZED to
execute letters to the County Legislative Delegation requesting a
public forum on methods of monitoring the thrift industry to reform
the system in order to avoid such problems in the future .
1 hereby cer",!ty*be!!h:v is a trua andcorrect copy of
an tiction taken and entered on the minutes of the
Board of Supervisors on he dare shown.
ATTESTFD: Y-�'fJ''r�J 9— /9 r
PHIL BATCHELOR, Clerk of the Board
of Supervisors and County Administrator
ec: Bill Sullivan p
County Administrator By Deputy
00193