CALIFORNIA - News from Jan. 9, 1985

Osamu (Sam) Mori has been named interim commissioner of the state Department of Savings and Loan by Gov. George Deukmejian. Until a permanent appointment is made, Mori, 56, will replace Lawrence Taggart, 42, who resigned Dec. 31 to take a position as president of a private S&L; consulting firm.

Industry sources say Mori, a 26-year veteran of the department and its senior civil service employee, has been selected to serve as caretaker of the department while Deukmejian continues to screen candidates for the permanent post. California’s commissioner of savings and loan is considered one of the most important savings-industry regulators in the nation because of the heavy concentration of S&Ls; in the state and California’s leadership in establishing liberal policies governing state-chartered associations’ investment powers.

The S&L; industry within California is divided over who should be named to replace Taggart. Most of the larger, established associations favor a more conservative commissioner who would support federal regulators’ efforts to curb the rapid proliferation of new S&Ls;, while small, entrepreneurial S&Ls; generally are lobbying for someone who, like Taggart, has liberal views about industry regulation.