| Company type | Savings and loan association |
|---|---|
| Industry | Financial services |
| Founded | 1922 in Stockton, California, United States |
| Defunct | September 1988 |
| Fate | Receivership |
| Headquarters | , |
Area served | California |
| Products | Mortgages |
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]
- ^ "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.