Your April 13 editorial "A Penny Saved: Why Bother?" points up the unfairness of federal regulations that hold the interest rates on smaller savings deposits far below what large deposits can earn-so far that inflation actually wipes out small savers' interest earnings. The need for an end to discrimination through inflexible savings interest limits is clear.

Not to be overlooked is another type of interest-rate discrimination that robs all individuals who save at banks. Under federal law and regulations the people who own more than 93million bank savings accounts earn at least one percent less than those who save at S&Ls and mutual savings banks, and as much as two percent less than those who save at credit unions. This interest-rate gap costs bank savers over a billion dollars a year.

As I said in testimony April 12 before the Senate financial institutions sub-committee, ending this descrimination against the millions of people who save at banks would be a clear signal to the public at large that policy-makers are considering their interests. At the very best, management of federal limits on savings interest should be made flexible-and fair-without delay. It is a step long overdue.