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Life Insurers Buy S&L Institutions To Get Federal Money

Hartford Business Journal’s Greg Bordonaro has mentioned the recent trend in major life insurance companies acquiring small savings and loan institutions.

Lincoln National, Hartford Financial, and Genworth Financial are among those that have recently bought up S&Ls.

The acquisitions make life insurers eligible for funding from the Capital Purchase Program provided by the federal government. That program’s money is reserved for depository institutions.

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