Savings and Loan Supervisory Act

[AI summary unavailable — showing source text] Savings and Loan Advisory Act - Title I: Separation of Federal Savings and Loan Insurance Corporation and Federal Home Loan Bank Board - Makes the Federal Savings and Loan Insurance Corporation an independent corporate instrumentality of the United States. Provides that the three members of the board of trustees may not hold any other position in the Federal Government. Reestablishes, under the Federal Home Loan Bank Act and the National Housing Act, the Board of Trustees as the functioning head of the Corporation in place of the Federal Home Loan Bank Board. Defines, under the Bank Protection Act of 1968, as a Federal supervisory agency the Federal Savings and Loan Insurance Corporation with respect to institutions insured by the Corporation. Title II: Administrative Procedures of the Federal Home Loan Bank Board - States that the Federal Home Loan Bank Board shall not impose requirements on institutions organized otherwise than under the laws of the United States to which Federal associations are not subject, nor shall the Board grant privileges or immunities to Federal associations which it does not grant to other savings institutions. Provides for the review in United States Co…