Magazine article American Banker

Railroad Fought Hard to Prevent a Ban on Agents

Magazine article American Banker

Railroad Fought Hard to Prevent a Ban on Agents

Article excerpt

Railroad Savings Bank executives fought with a vengeance to save their network of 80 agents in 1989.

They were worried that federal lawmakers were going to out-law the agents because many state-chartered thrifts across the country were in trouble.

"It would have been a blow to the rural communities in Kansas." said Gary L. Baugh, president of Railroad.

Railroad executives used that argument to lobby the senators from Kansas: Bob Dole, the Republican minority leader, and Nancy Kassebaum, also a republican. And the thrift converted to a federal charter.

The effort paid off. Federal law went unchanged, saving the livelihoods of agents like Evelyn Freede.

At the ripe age of 72, Ms. Freede is Railroad's most successful deposit-gatherer. She operates out of Norton, Kan.

"I've watched it grow from the days when maybe we had five accounts and maybe three or four loans," said Ms. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.