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What is the difference between an Ohio state-chartered savings and loan and an Ohio state-chartered savings bank?

April 26, 2017Bank loan Ohio savings state-chartered

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What is the difference between an Ohio state-chartered savings and loan and an Ohio state-chartered savings bank?

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A. Both are considered thrifts, but they are created and regulated by separate sections of the Ohio Revised Code. These institutions are similar; however, state-chartered savings and loans have the Office of Thrift Supervision as their federal regulator, whereas state-chartered banks have the Federal Deposit Insurance Corporation as their federal regulator.