Savings and loan associations are considered:

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Savings and loan associations are commonly known as thrift institutions. These institutions specialize in accepting deposits from savers and investing these funds in mortgages and other types of loans to their members typically for home purchases. They do not perform the same types of banking activities as commercial banks, such as providing checking accounts and offering credit cards. Investment companies, on the other hand, specialize in managing investments on behalf of their clients. Finally, loan sharks refer to illegal lenders who typically charge extremely high interest rates and use aggressive means to recover their loans.

Savings and Loan Associations Are Considered