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.
In its formation, Non-stock
Savings and Loans Associations (NSSLAs) must have 'at least five but not more than 15 members of a well-defined group as provided herein may form an Association under this Act.' MBAs have no minimum membership, but to be classified as a micro-MBA it must have 5,000 members.
Desperate to stop the sale but lacking the necessary powers, Commissioner William Crawford of the California Department of
Savings and Loans sent his own small examination team to Lincoln, to see if his people could somehow put a spoke in Keating's wheel.
All these problems of commercial banks and
savings and loan associations have fostered industry consolidation.
The
savings and loan name may change - indeed, many
savings and loans already have renamed themselves banks - but they will continue to fulfill an important function in the housing market as originators of home loans.
They even had their own lobby: the National
Savings and Loan League.
When the last failed
savings and loan in Louisiana was auctioned off by the Resolution Trust Corp., the newest black-owned bank in the Deep South--Dryades Savings Bank FSB--was born.
The number of
savings and loan associations continued to decline despite improvements in most thrifts' financial conditions, according to a Veribanc, Inc.
The nation's
savings and loan bailout agency, the Resolution Trust Corporation (RTC), lived precisely this scenario, not with used furniture, but with your money.
Lincoln Savings involved the deductibility of premiums paid into a fund maintained by the Federal
Savings and Loan Insurance Corporation (FSLIC).
The statute provides that loans made by lenders other than banks or
savings and loan associations which are usurious, are void.
First-quarter call report data released by the Office of Thrift Supervision showed continued improvement for most of the
savings and loan industry, according to an analysis by Veribanc, Inc.