Baltimore investment house T. Rowe Price Associates Inc. has filed an application with the Office of Thrift Supervision to operate a savings and loan.

The mutual fund giant-T. Rowe Price is the country's third-largest direct marketer of mutual funds-claimed it is facing increased competition from commercial banks and savings banks that now offer mutual funds and other investment products.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.