Banking & finance - sept. 24, 1992
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RTC Awards Rich Contract to TELACU, Others: The East Los Angeles Community Union and three Southern California companies are part of a consortium of firms that has won one of the largest
single contracts ever awarded by the federal agency that is disposing of failed thrift assets. The Resolution Trust Corp. will pay the joint venture, known as Texas Data Control, $39.7
million over the next three years to service loans valued at $7.5 billion from failed thrifts in Texas, Louisiana and Mississippi. The contract carries two optional one-year extensions.
TELACU is a privately funded community action group. The Southern California firms involved are Carpenter & Co., Irvine; CSC Logic Inc., a Dallas subsidiary of Computer Sciences Corp. in
El Segundo, and Data Line Service Co. in Covina. The Latino-operated TELACU has a 25% interest in Texas Data, which qualifies the joint venture as a minority-owned business. MORE TO READ