The 1982 Garn-St. Germain Act facilitated the conversion of thrifts from the mutual form to the...

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The 1982 Garn-St. Germain Act facilitated the conversion of thrifts from the mutual form to the stock form. True or False? Explain.

Thrifts

These are associations of savings and loans where a variety of loans and saving services are provided. A differential factor from commercial banks is that money can be borrowed by them from federal home loan systems of bank and higher interest paid to members.

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Thrift industry constituting of savings and loan associations, mutual saving banks, and credit unions have in the past been in the business of...

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