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Obituary dated August 17, 2014:
Former Congressman Fernand St. Germain Passed Away At Age 86
Former U.S. Congressman Fernand Joseph St. Germain passed away late Saturday night at his home in Newport, RI.
Freddy, as he was known to his friends, was born in Blackstone, Massachusetts and attended parochial schools in Woonsocket, RI.
He graduated from Our Lady of Providence Seminary High School in 1945, and from Providence College in 1948.
He served in the United States Army from 1949 to 1952, and then graduated from Boston University Law School in 1955.
Freddy was elected to the Rhode Island House of Representatives from 1952 to 1961 and he represented Rhode Island in the U.S. House of Representatives as a Democrat from 1961 to 1989.
He served as chairman of the Committee on Banking, Finance, and Urban Affairs; the Garn St. Germain Depository Institutions Act of 1982 is named after him.
Congressman St. Germain played a role in passing legislation which removed some regulations on savings and loans.
The deregulation had the effect of enabling the institutions to engage in risky lending practices, and was the key factor in the creation of the savings and loan crisis.
Freddy was a resident of Newport, Rhode Island and he ll be missed dearly!
