S&Ls
Mortgage-focused depositories
S&Ls is short for savings and loan associations—financial institutions that traditionally focused on accepting savings deposits and making mortgage loans.
They played a central role in American home financing through most of the twentieth century.
The S&L crisis of the 1980s, when hundreds of these institutions failed due to risky lending and fraud, led to massive government bailouts and tighter regulation.
Few S&Ls remain today, their functions largely absorbed by commercial banks.
Accumulated money kept
- thriftsStores selling donated items
- banksFinancial institutions or riversides
- depositoriesPlaces for safekeeping
- associationsMental or organizational links
mutuals · credit unions · building societies · federals · charters · branches · community banks · financial institutions
Emergency aid preventing bankruptcy
- collapseSudden structural failure
- scandalDisgraceful public affair
- deregulationRemoving governmental business restrictions
- insolvencyInability to pay debts
failure · Keating · junk bonds · RTC · taxpayer · fraud · recession · defaults
Legally possessing residential property
- mortgagesLoans secured by property
- lendingTemporary provision of resources
- homebuyersPeople acquiring residential property
- down paymentsInitial sums toward purchases
fixed-rate · amortization · refinancing · equity · suburban · postwar · American Dream · GI Bill
savings
Accumulated money kept
- thriftsStores selling donated items
- banksFinancial institutions or riversides
- depositoriesPlaces for safekeeping
associations · mutuals · credit unions · building societies · federals · charters · branches · community banks · financial institutions · member-owned
bailout
Emergency aid preventing bankruptcy
- collapseSudden structural failure
- scandalDisgraceful public affair
- deregulationRemoving governmental business restrictions
insolvency · failure · Keating · junk bonds · RTC · taxpayer · fraud · recession · defaults · congressional hearings
homeownership
Legally possessing residential property
- mortgagesLoans secured by property
- lendingTemporary provision of resources
- homebuyersPeople acquiring residential property
down payments · fixed-rate · amortization · refinancing · equity · suburban · postwar · American Dream · GI Bill · subdivisions
- lenderslenders, banks, mortgage lenders, commercial banks, savings banks
- bankingbank, banks, ATM, ATMs, account
- Financial FirmsGoldman Sachs, JPMorgan Chase, Bank of America, Citigroup, Wells Fargo
S&Lscommercial banks
For-profit lending institutions
investment banks · national banks · hedge funds · JPMorgan Chase · Bank of America