The ING Group, Holland's third- largest bank, is invading the U.S. savings market and mortgage markets, armed with the Internet, direct mail, and a bank of phones.

The Dutch group, which has $475 billion of assets, has applied for permission to open a thrift in the United States. It has been operating a similar unit in Canada for about two years and already has amassed more than 250,000 customers and over $2.5 billion of assets there.

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