The early S&Ls were managed and directed by:
A) The government
B) Depositors
C) The bank directors
D) All of the above
E) None of the above

Question

Quizplus · Accepted Answer

The early Savings and Loan (S&L) institutions were originally established as cooperative organizations, where the depositors were indeed the owners and had a say in the management and direction of the institution. This mutual ownership model meant that those who deposited their money into the S&Ls had a direct interest in their governance and success.

The Early S&Ls Were Managed and Directed By