Fernand Joseph St Germain (January 9, 1928 – August 16, 2014) was an American politician from Rhode Island.

Although the provisions of the act were to protect thrift savings institutions from rapidly rising interest rates by allowing them to offer new deposit accounts and make additional types of loans, its loosening of regulations arguably precipitated the Savings and loan crisis.

The Journal examined his financial disclosures and found that he was able to secure no-down-payment loans of $1.3 million to acquire several International House of Pancakes restaurants even though he only had a salary of $42,500 per year.

The chairman of the S&L told the Journal that he did offer St Germain access to real estate deals not available to the general public but contended that he did not request assistance with the application.

[2] Although the Justice Department and the House Ethics Committee both declined to pursue charges against him, the controversy factored into his 1986 and 1988 re-election efforts.