Savings banks are not permitted to convert from mutual to stockholder form in the United States, but savings and loans can do so with federal regulatory agency approval.

Question

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Both savings banks and savings and loan associations can convert from mutual to stockholder form with the approval of federal regulatory agencies in the United States. This process is known as mutual-to-stock conversion and is subject to regulatory oversight to ensure it is conducted fairly and in the best interest of the institution's members and the financial system.

Savings Banks Are Not Permitted to Convert from Mutual to Stockholder