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FIRREA
FIRREASee: Financial Institutions Reform, Recovery and Enforcement Act of 1989Financial Institutions Reform, Recovery and Enforcement Act of 1989Legislation in the United States passed in response to the savings and loan crisis. The FIRREA created the Resolution Trust Corporation, which was charged with closing thrifts declared to be insolvent. It also created new funds within the FDIC to administer the depositor's insurance to account holders at insolvent institutions. Importantly, it created the Office of Thrift Supervision, a bureau of the U.S. Department of the Treasury to regulate federal savings associations, savings and loan associations (thrifts), and some holding companies. The OTS both provides charters and creates regulations for thrifts and other institutions that fall under its supervision. Additionally, it audits the practices of financial institutions that specialize in personal savings and mortgage loans to ensure that they comply with applicable regulations.FIRREA See Financial Institutions Reform, Recovery, and Enforcement Act of 1989.FIRREASee Financial Institutions Reform,Recovery and Enforcement Act. FIRREA
| Acronym | Definition |
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| FIRREA➣Financial Institutions Reform Recovery and Enforcement Act of 1989 |
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