In Brief: T. Rowe Price Seeks Federal Thrift Charter

T. Rowe Price Associates Inc., Baltimore, has applied to the Office of Thrift Supervision to operate a savings and loan, becoming the 27th nonbank to do so.

Price, the country's third-largest direct marketer of mutual funds, said it faces increased competition from commercial and savings banks that offer investment products. It plans to market deposits nationwide but does not intend to be a lender, the application said.

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