Congressman Fernand J. St Germain, who spearheaded efforts to deregulate the savings and loan industry as chair of the House Banking Committee, died Saturday of kidney failure at his home in Newport, R.I. He was 86.

Legislation co-named for the Rhode Island Democrat, the Garn–St Germain Depository Institutions Act of 1982, is often cited as a contributor to the S&L crisis of the 1980s.

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