Federal Savings and Loan Association

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Federal Savings and Loan Association

An institution chartered by the federal government whose primary function is to regulate institutions that collect savings deposits and provide mortgage loans.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Federal Savings and Loan Association

A federally chartered bank that specializes in taking deposits for checking and savings accounts, as well as making home mortgages. Savings and loan associations tend to be smaller than other banks and are more focused on the local communities in which they operate. It is sometimes (but not always) easier to obtain a loan from a savings and loan association because it may have better knowledge of the local market. They derive most of their funds from customer savings accounts, but they also generally have easy access to loans from the Federal Home Mortgage Banks. They are also known as thrifts. They are regulated by the Office of Thrift Supervision.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
The other banks affected by this move include; Women's World Banking, Ghana, Unicredit Savings and Loans Ltd, Global Access Savings and Loans Company Ltd, Accent Financial Services Ltd, Midland Savings and Loans Company Ltd, First Allied Savings and Loans Co.
With the collapse of the SLA industry in the 1980s due to unsound real-estate lending, known as the Savings and Loan Crisis, the US Congress passed the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 which, among others, created the Office of Thrift Supervision to replace the FHLBB.
You remember Charlie, the poster boy of the savings and loan catastrophe of the 1980s.
The other organizations monitor and regulate the Nation's existing savings and loans. The National Credit Union Administration regulates and oversees credit unions.
To date, most of the savings and loans taken over by banks have been wards of the RTC - in other words, dead.
"The industry was dominated by Ivy League types, the Brahmins of the community." Savings and loan executives, understanding that their survival depended on political favor, became powerful political animals.
BE starts ranking the top black industrial service companies, banks, savings and loan associations and insurance companies.
In effect, the government had made it must safer for an investor to put his money into FHA mortgages written by any small, local bank or savings and loan than to own stock in even the largest, most secure corporations.
With that appraisal in hand, the condo buyer goes to the local savings and loan. For collateral he offers property valued at $100,000, even though its actual worth is $90,000.
Enron's rise and fall was, in many ways, reminiscent of the savings and loan scandals of the '80s.
The banking and savings and loan crisis of the late 1980s and the large increase in the number of nonperforming loans in the early 1990s in insurer portfolios underscore this point.
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