American Savings and Loan

American Savings and Loan Association
Company typeSavings and loan association
IndustryFinancial services
Founded1922 (1922) in Stockton, California, United States
DefunctSeptember 1988 (1988-09)
FateReceivership
Headquarters
Stockton, California
,
United States
Area served
California
ProductsMortgages

American Savings and Loan Association was an American savings and loan based in Stockton, California. In 1988 it was the largest thrift failure and the federal government's costliest resolution during the savings and loan crisis at an estimated cost of $5.4 billion.[1]

  1. ^ "New Figures Rank Collapse of American S&L; as Costliest Ever : Banking: Regulators now say it will cost taxpayers $5.4 billion. Bass reportedly plans to sell successor American Savings". Los Angeles Times. 1994-05-20. Retrieved 2021-06-08.