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Federal savings associations (also called "federal thrifts" or "federal Savings Banks"), in the United States, are institutions chartered by the Office of Thrift Supervision which is now administered by Office of the Comptroller of the Currency after the agencies merged. Institutions chartered by the OTS are still regulated according to the rules and regulations of Federal Savings Banks. Mortgages issued by Federal Savings Banks are pursuant to the provisions of the Home Owners' Loan Act, a U.S. federal statute. Although the activities of federal thrifts were once confined primarily to taking deposits from consumers and making residential mortgage loans, federal thrifts are now authorized to offer a wide range of financial products and services.
Federal thrifts should not be confused with national banks which are banks chartered under federal law by the Office of the Comptroller of the Currency. Although the differences between federal thrifts and national banks have diminished as the authorized activities of federal thrifts have expanded to include virtually all traditional banking activities, they are still distinct institutions subject to different regulatory schemes and supervised by different regulators. They are not savings and loan associations.
federal, savings, association, this, article, multiple, issues, please, help, improve, discuss, these, issues, talk, page, learn, when, remove, these, template, messages, this, article, factual, accuracy, compromised, date, information, please, help, update, t. This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages This article s factual accuracy may be compromised due to out of date information Please help update this article to reflect recent events or newly available information April 2012 This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Federal savings association news newspapers books scholar JSTOR July 2007 Learn how and when to remove this template message Learn how and when to remove this template message Federal savings associations also called federal thrifts or federal Savings Banks in the United States are institutions chartered by the Office of Thrift Supervision which is now administered by Office of the Comptroller of the Currency after the agencies merged Institutions chartered by the OTS are still regulated according to the rules and regulations of Federal Savings Banks Mortgages issued by Federal Savings Banks are pursuant to the provisions of the Home Owners Loan Act a U S federal statute Although the activities of federal thrifts were once confined primarily to taking deposits from consumers and making residential mortgage loans federal thrifts are now authorized to offer a wide range of financial products and services Federal thrifts should not be confused with national banks which are banks chartered under federal law by the Office of the Comptroller of the Currency Although the differences between federal thrifts and national banks have diminished as the authorized activities of federal thrifts have expanded to include virtually all traditional banking activities they are still distinct institutions subject to different regulatory schemes and supervised by different regulators They are not savings and loan associations See also editUSAA Federal Savings BankExternal links edit12 U S C 1461 1470 Home Owners Loan Act nbsp This economics related article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Federal savings association amp oldid 1003497223, wikipedia, wiki, book, books, library,
