Insurance companies that apply for a thrift charter as a lobbying tactic are in for a shock, Ellen S. Seidman, director of the Office of Thrift Supervision, said Tuesday.

"Unless they truly have a well-developed business plan, people ought to think long and hard before they make an application to start a thrift," she said in an interview. "The notion that all you need for approval is to make an application is wrong."

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