Thrift Institutions and the Mortgage Market

Archive Report

Thrift Industry Problems and Prospects

New challenges to continuation of their rapid growth have been encountered this year by the country's mutual thrift institutions, which since World War II have risen to a position of dominance in the field of home financing. In recent months, commercial banks have been raising the interest rates they pay on savings deposits, thereby exerting strong competitive pressures on the savings and loan associations and mutual savings banks which together comprise what has become known as the mutual thrift industry. Congress is moving at the same time toward adoption of legislation that for the first time will subject thrift institutions to meaningful federal taxation. Meanwhile, disclosures of fraud and mismanagement in the operation of some savings and loan associations in ...

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