In Brief: Fidelity's Parent Joins Line for Thrift Charter

FMR Corp., the country's largest mutual fund company and the parent company of Fidelity Investments, filed an application Tuesday to launch a thrift.

Fidelity Personal Trust Company FSB would be based in Boston and would offer only trust services, according to the application filed with the Office of Thrift Supervision.

Fidelity rivals T. Rowe Price Associates Inc. of Baltimore and Morgan Keegan Inc. of Memphis also have applications for thrifts pending before the OTS. Like Fidelity, Morgan Keegan wants a thrift only so it can offer trust services. T. Rowe Price has said its thrift would take deposits, but not make loans.

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