S&L
Abbreviation for savings and loan association — a US financial institution historically focused on accepting deposits and providing home mortgage loans.
Definitions
Abbreviation for savings and loan association — a US financial institution historically focused on accepting deposits and providing home mortgage loans. S&Ls became notorious during the 1980s Savings and Loan Crisis, when widespread deregulation and mismanagement led to mass insolvencies and a federal bailout. The term is largely a product of that era, though the institutions still exist in diminished form.
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(US, banking) A savings and loan association.
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