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3 years ago

Why were savings and loans (S&Ls) originally established?

Business

2 answers:

bagirrra123 [75]3 years ago

8 0

It's C "to help people buy homes" on edge nuity!

solmaris [256]3 years ago

3 0

Option (C) is correct. The savings and loans (S&Ls) were originally established to help people buy homes.

Further Explanation:

Saving and loan association:

Saving and loan association is a financial entity that deals with saving deposits and mortgage loans. These entities provide the same services as a commercial bank but majorly emphasis on residential mortgages. The main aim of the saving and loan association is to provide the home facility to all U.S. citizens. Their rules of lending the mortgage loan differ from the rules of other commercial banks.

Justification for the correct and incorrect options:

To help people invest in small businesses: This is an incorrect option because the main aim of saving and loan association is to provide the housing facility.

To help people save money: This is an incorrect option because this task can be carried out by the commercial bank.

To help people buy homes: This is the correct option because this association was established for providing the housing facility to the U.S. citizens.

To help people invest in the stock market: This is an incorrect option because it does not provide any financial consultancy to the customers.

Thus, option (C) is correct. The savings and loans (S&Ls) were originally established to help people buy homes.

Learn More:

1. Learn more about the identical products

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2. Learn more about the filing of tax return

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3. Learn more about the demand for the product

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Answer Details:

Grade: Middle school

Chapter: the Banking system

Subject: Business studies

Keywords: savings, and loans (S&Ls), originally, established,

help, people, invest, small, businesses, save, money, buy, homes,

invest, stock market

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