Federal Savings and Loan Association License | Pre-licensing Assessment | Savings and Loan Association Charter Application Management | Post-licensing Risk and Compliance Support

We offer a comprehensive set of solutions to help you obtain and maintain  a US Savings and Loan Association (S&L) charter (federal savings and loan association license) issued by the Office of the Comptroller of the Currency (OCC), with oversight from the Federal Deposit Insurance Corporation (FDIC) and other applicable regulators, tailored to::

• Your business goals and objectives
• Your client demographics
• Your countries of operation
• The size of your business
• The available human and technology resources
• Your risk appetite
• Your governance structure
• The products that you offer
• Savings and Loan Associations' obligations covering risk and compliance management under financial laws and regulations, the applicable financial licensing requirements, AML/CFT laws, privacy laws, consumer protection laws, and more

We have designed our regulatory licensing solutions to help you navigate the complexities of the US Savings and Loan Associations' licensing regime in a commercially oriented and goal-focused manner, providing effective support for all stages of the US savings and loan associations' licensing process, including but not limited to the following aspects:

• Federal Savings and Loan Association License Guidance: Advising on a wide range of aspects associated with a federal savings and loan association license as it relates to your specific situation
• Pre-licensing assessment: Covering compliance gap analysis as well as risk and compliance assessment
• Pre-licensing support:
• Drafting the necessary policies and procedures to help you comply with the US savings and loan associations' licensing conditions and financial markets' regulations
• Developing internal controls to help you meet your obligations under the US savings and loan associations' licensing regime
• Savings and Loan Association Charter Application Support: Covering the entire licensing process
• Post-licensing Support: Covering
• Ongoing compliance advice
• Comprehensive second-line risk and compliance support, including leading the implementation of your risk management framework (RMF), compliance management framework (CMF), compliance monitoring program (CMP), compliance calendar and checklist, ongoing risk assessments, internal and external reporting, outsourced providers' management, and more
• AML/CFT advice
• AML/CFT compliance management
• Compliance assurance solutions, including compliance assurance program (CAP) development, implementation, and internal control testing

 

Service Coverage

This page is about US Savings and Loan Association (S&L) licensing. In the United States, Savings and Loan Associations are federally chartered depository institutions regulated primarily under the Home Owners’ Loan Act (HOLA). They must obtain a charter from the OCC and are subject to ongoing prudential, governance, and consumer compliance obligations. Additional requirements include deposit insurance from the FDIC, membership in the Federal Home Loan Bank (FHLB) system, and compliance with anti-money laundering requirements under the Bank Secrecy Act (BSA). We offer support for S&L charter applications tailored to:

• Savings and Loan Associations
• Mortgage Lenders
• Consumer Finance Companies
• Credit Unions
• Community Banks
• Mutual Savings Banks
• Building Societies
• Cooperative Banks
• State-Chartered Savings Associations
• Deposit-Taking Finance Companies
• Community Development Financial Institutions (CDFIs)

You can find more information about our federal savings and loan association license solutions below:

 

US Savings and Loan Associations’ Licensing Preparation

Pre-licensing Compliance Assurance

Our federal savings and loan association license solutions cover the following focus areas:

• Compliance Goals Analysis: We review your business-specific goals and resources against the suitability criteria for a federal savings and loan association license
• Initial Consultation: We provide guidance on potential risk and compliance issues that may arise during the US savings and loan associations' licensing process
• Choosing the Right Jurisdiction: We assist in evaluating regulatory, risk, and compliance environments to determine the most suitable jurisdictions for your federal savings and loan association license, tailored to suit your:

• business objectives,
• operational capacity,
• client base,
• markets of operations,
• and other relevant factors

• Gap Analysis: We identify gaps between your existing operations and regulatory requirements and help you align them in a commercially oriented manner
• Savings and Loan Association Charter Applications Plan: We help you establish a roadmap to effectively meet the requirements for your federal savings and loan association license

 

Federal Savings and Loan Association License Guidance

Selecting the right compliance model is crucial not only for navigating the licensing process but also for maintaining ongoing compliance and avoiding potential breaches. Our US savings and loan associations' licensing solution covers:

• Compliance Model Selection: To help you best comply with the US savings and loan associations' licensing regime and related risk and compliance obligations.
• Corporate Governance Model Selection: We offer practical guidance on establishing effective corporate governance practices that support your risk and compliance oversight.
• Operations Model Advisory: We advise you on optimising your operational and governance models to help you efficiently comply with the licensing requirements for deposit takes and lenders and other applicable savings and loan associations' obligations, keeping in mind your specific circumstances, available resources and business goals.

 

Federal Savings and Loan Association License and Entering a Regulated Environment

We help businesses transition from an unregulated environment to operating under the US savings and loan associations' licensing regime, helping them meet their obligations as a federal savings and loan association license holder.

We also assist already regulated businesses in aligning their existing risk and compliance management structures with the US savings and loan associations' licensing regime requirements.

Our focus areas for this service include:

• New businesses
• Existing savings and loan associations operating in unregulated markets
• Regulated savings and loan associations that expand into foreign jurisdictions
• Financial institutions and/or service providers with established risk and compliance frameworks seeking to offer regulated deposit taking or lending services as a new product.

 

Multi-Jurisdictional Compliance

With years of experience managing risk and compliance obligations for businesses operating under multiple financial licenses across various jurisdictions, we help businesses remain compliant with savings and loan associations' obligations globally.

 

Federal Savings and Loan Association License and Wholesale Markets

Obtaining a federal savings and loan association license may not be suitable for all business models, particularly where the focus is limited to wholesale or institutional markets rather than retail deposit-taking. The S&L framework is designed primarily to serve households and communities with residential mortgage lending and retail deposit products. For entities focused on wholesale funding or institutional credit, alternative structures such as industrial loan companies, trust banks, or non-bank lenders may be more appropriate. We offer risk and compliance management solutions to assist firms that:

• Operate primarily in wholesale funding or institutional credit markets
• Do not require a federally chartered retail deposit-taking authority
• Are exploring alternative federal or state-level licenses

We help these firms manage obligations that still apply, including BSA/AML compliance, corporate governance and risk oversight, consumer protection rules where applicable, and prudential reporting for wholesale or hybrid models.

 

Federal Savings and Loan Association License Application

We assist with your savings and loan association charter application through ongoing engagement in the US savings and loan associations' licensing process:

• Document Compilation and Review: We compile and review all required supporting documents to support your savings and loan association charter application.
• Savings and Loan Association Charter Application Form Completion: We help you complete the forms so that all material information is accurate and complete.
• Pre-Submission Review: We can arrange a pre-submission review session with key stakeholders to ensure all parts of your application are understood and agreed upon. This session aligns application details with the actual situation, removing ambiguity.
• US Savings and Loan Associations' Licensing Process and Regulatory Liaison: We manage the end-to-end submission process, maintaining clear and effective communication channels throughout the licensing process.
• Timeline Management: We closely monitor and adhere to all necessary deadlines, providing timely updates and adjustments to keep the application process on track.

 

Resolving Federal Savings and Loan Association License Issues

Having competent compliance advisors is crucial when licensing issues arise. Therefore, our federal savings and loan association license solutions include a range of services to address and resolve these issues effectively:

• Remediation Solutions for Federal Savings and Loan Association License Applicants: We address and remediate risk and compliance issues identified by regulators, helping your operations align with the US savings and loan associations' licensing regime requirements.
• Specific License Conditions Compliance: We can help you manage additional conditions imposed on your federal savings and loan association license, developing a tailored action plan to maintain compliance and facilitate the eventual removal of these conditions with minimal disruption to your business operations.

• Licensing Issues Handling: We address common licensing issues encountered during the US savings and loan associations' licensing process, providing you with solutions to navigate and resolve these challenges efficiently.
• Further Information: You can visit our Compliance Remediation Solutions page for more information.

 

Post-Licensing Support

We offer a full range of ongoing risk and compliance solutions for licensed savings and loan associations. Our services include, but are not limited to:

Ongoing Risk and Regulatory Compliance

• Savings and Loan Associations' Obligations Guidance: We can advise your risk, compliance, management and other teams on meeting the requirements of the US savings and loan associations' licensing regime and other regulatory compliance obligations. You can visit our Compliance Consultancy Service page for more information.
• Regulatory Risk and Compliance Management: We provide dedicated compliance managers to manage your overall compliance. For more information, visit our Specialised Compliance Management Solutions page for Savings and Loan Associations.
• Compliance Assurance Solutions: As part of our compliance assurance solutions, we offer:
• Compliance Assurance Program (CAP) development and testing options
• Internal Controls Design option
• Internal Controls Testing option
• Internal AML/CFT Review option
• Statutory AML/CFT Audit option
• Compliance Training Solutions: We offer training programs to different teams on complying with:
• Savings and Loan Associations' obligations for risk and regulatory compliance management. You can visit our Compliance Training page for more information.
• Savings and Loan Associations' AML/CFT obligations and operational best practices for fraud prevention. You can visit our AML/CFT Training page for more information.
• Crisis Management Planning: We can develop proactive strategies to manage potential compliance crises effectively.
• Anti-Money Laundering (AML) and Counter Terrorist Financing Solutions: We provide a full range of AML/CFT solutions for savings and loan associations. For more information, visit our Specialised AML/CFT Solutions page for Savings and Loan Associations.
• Advanced Compliance Technologies: We can assist you with selecting and integrating advanced technology solutions, such as compliance automation tools and regulatory technology (RegTech), to streamline compliance processes without disrupting operations.
• Risk and Compliance Framework Adjustments: Including adjustments to risk management frameworks (RMFs), compliance monitoring programs (CMPs), compliance management frameworks (CMFs), and other core procedures and policies to align them with:
• new business goals
• regulatory changes
• changes in your operations
• evolving market conditions
• changes in stakeholders' risk appetites (your banking partners, insurance companies, liquidity providers, etc.).

 

 

Risk and Compliance Obligations for Federal Savings and Loan Association License Holders

Federal Savings and Loan Association License holders are subject to various obligations set out in applicable laws and regulations. They are also expected to uphold standards for their conduct and internal operations, as outlined in regulatory guidance or accepted industry practices.

We can help you address these obligations and expectations through comprehensive support in the different areas. The list below is not exhaustive:

Federal Savings and Loan Association License and Regulatory Compliance Obligations

• Compliance Management Systems: We can help you establish effective compliance programs, compliance monitoring plans, controls testing methodologies, compliance calendars and more (as per 12 CFR §30.2).
• Risk Management Frameworks: We can help you develop comprehensive risk management frameworks to fulfil savings and loan associations' obligations for identifying, assessing, and mitigating operational, regulatory, strategic, financial and other types of risks.
• Policy and Procedure Development: We can help you draft and implement policies and procedures aligned with the US savings and loan associations' licensing requirements.
• Compliance Monitoring Plans: We can oversee the execution of your CMPs, covering ongoing monitoring of your compliance obligations under the US savings and loan associations' licensing regime.
• Internal Control Testing and Compliance Assurance: We can conduct internal reviews and audits of your controls to test their effectiveness and compliance with the applicable regulatory standards.
• Capital Adequacy Requirements: We assist savings and loan associations in developing capital adequacy monitoring controls where required under licensing frameworks, including credit unions, building societies, and non-bank lenders operating under prudential or financial licensing regimes.
• Liquidity Management Requirements: We help implement liquidity monitoring and cash flow stress testing controls for licensed savings and loan associations, particularly where operating under financial institution or protected deposit frameworks.
• Financial Auditing Standards: We can assist in establishing procedures to help you comply with the audit and assurance requirements under the US savings and loan associations' licensing regime.
• Credit Contract Compliance: We can help you establish controls to comply with consumer lending and disclosure obligations applicable to savings and loan associations entering into regulated credit contracts, including hardship provisions and responsible lending requirements (as per the requirements of the Truth in Lending Act).
• Deposit Insurance Premium Management: We help Savings and Loan Associations develop processes for calculating, reporting, and remitting FDIC insurance premiums and ensure compliance with the Federal Deposit Insurance Act.
• CRA Compliance Frameworks: We assist Savings and Loan Associations in crafting CRA strategies, preparing public CRA plans, and coordinating CRA examinations under the Community Reinvestment Act.
• Bank Secrecy Act / AML Compliance: We support Savings and Loan Associations in implementing BSA/AML programs, transaction monitoring, and SAR reporting to meet 31 CFR Part 1020 requirements.

 

Federal Savings and Loan Association License and Operational Oversight Obligations

• Oversight of Outsourcing: We can establish a set of effective controls to comply with savings and loan associations' obligations for overseeing outsourced services, also covering related obligations under AML/CFT compliance, ISO requirements, and more.
• Structures for Governance: We can help you establish effective governance structures to comply with savings and loan associations' obligations and develop an effective approach to overseeing your risk exposure and compliance status across different functions of your business.
• Senior Management Accountability: We can help you comply with savings and loan associations' obligations for senior management and key staff conduct and competence.
• Maintaining Operational Resilience: We assist in developing continuity plans to meet savings and loan associations' obligations for operational resilience, helping critical business services withstand disruptions.
• Managing Technology Risks: We provide guidance on technology risk management obligations under the US savings and loan associations' licensing regime.

 

Federal Savings and Loan Association License and Market Integrity/Transparency Requirements

• Principles for Fair Treatment: We can help you implement controls to comply with expectations that cover adherence to principles of fair treatment and transparent communications with clients (as per the requirements of the Consumer Financial Protection Act).
• Standards for Conduct and Disclosure: We can help you comply with the US savings and loan associations' licensing standards for conduct and disclosure.
• Product Suitability and Governance: We can establish tailored controls to help licensed savings and loan associations comply with product suitability and governance obligations, including risk management and governance arrangements across the product life cycle (as per the requirements of the Federal Reserve Guidance on Fair Credit Practices)
• Protection of Client Assets: We can help you comply with savings and loan associations' obligations to protect and segregate client assets.
• Resolution of Disputes: We can help you establish effective mechanisms for dispute resolution and complaints management, particularly for retail clients.

 

Federal Savings and Loan Association License and Resource Management Obligations

We can help you comply with the following requirements of the US savings and loan associations' licensing regime:

• Adequacy of Resources: Covering financial, technological, human and other resources.
• Competence of Professionals: Covering key personnel, their necessary skills, knowledge, and professional competence.
• Our focus areas include:

• Assessment and Gap Analysis: We can help you evaluate the adequacy of your financial, technological, and human resources against the requirements of the licensing regime.
• Resource Allocation Plans: We can help you develop strategies to optimise resource allocation, covering sufficient capacity for compliance, operations, banking, customer support and other functions and departments.
• Technological Solutions: We can recommend and implement RegTech tools to streamline compliance processes, such as transaction monitoring, reporting, and audit trails.
• Key Personnel Assessment: We can help you assess the skills, qualifications, and experience of key personnel to identify areas for improvement.
• Training and Development Programs: We can design and deliver targeted compliance training programs to upskill personnel in compliance, risk management, deposit taking or lending regulations.
• Competence and Accreditations of Advisors and Representatives: We can advise you on certifications and continuing professional development (CPD) requirements for compliance professionals and senior management.
• Representative Vetting: We can help establish a framework for assessing the competence and suitability of advisors and representatives before appointment.
• Compliance Monitoring: We can help develop controls to monitor representatives' adherence to conduct and disclosure obligations.
• Ongoing Training: We can help you create a framework to support continuous education for advisors and representatives on licensing obligations, market integrity, and client interaction standards.
• Regulator Liaison: We can act as an intermediary with regulators to address queries and help you demonstrate compliance with resourcing obligations.

 

Federal Savings and Loan Association License and Reporting

• Regulatory Reporting: We can help you prepare and submit periodic and ad-hoc reports covering:
  • US Savings and Loan Associations' Licensing Obligations
  • US Savings and Loan Associations' AML/CFT Obligations (STRs, SARs, cross-border transaction reports, cash transaction reports, and other reporting obligations)
  • US Savings and Loan Associations' obligations under financial market conduct regulations
• Compliance Documentation: We can help you develop and maintain the necessary documentation to meet record-keeping obligations under various laws and regulations.
• Audit Readiness: We can prepare you for audits and reviews to demonstrate compliance with regulatory requirements, provisions of the US savings and loan associations' licensing regime, applicable operational standards, and more.

 

Related Services

We assist in obtaining Federal Savings and Loan Association license equivalents in the following jurisdictions:

• Australia: For more information on the Australian equivalent of a Federal Savings and Loan Association license, the ADI licence, you can visit our ADI Licence page.
• United Kingdom: For more information on the UK equivalent of a Federal Savings and Loan Association license, the UK building society authorisation, you can visit our UK Building Society Authorisation page.
• New Zealand: For more information on the New Zealand equivalent of a Federal Savings and Loan Association license, the deposit takers licence, you can visit our New Zealand FSP Registration page..
• Singapore: For more information on the Singaporean equivalent of a Federal Savings and Loan Association license, the Singapore Finance Company Licence, please visit our Singapore Finance Company Licence page.
• Other Jurisdictions: We also offer licensing solutions for finance company licensing in prominent financial centres and offshore tax havens, including but not limited to: