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FIRREA-Financial Institutions Reform, Recovery and Enforcement Act.
       
 
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FIRREA-Financial Institutions Reform, Recovery and Enforcement Act.

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FIRREA-Financial Institutions Reform, Recovery and Enforcement Act.
Financial Institutions Reform, Recovery and Enforcement Act of 1989. A federal law created to improve the situation after hundreds of U.S. Savings and Loan institutions failed.

This act created the Resolution Trust Corporation (RTC), a company which provided funds to the savings and loan institutions which needed help. These funds were generated by the Resolution Funding Corporation (REFCORP).
    
It moved Thrift regulatory authority from the Federal Home Loan Bank Board to the Office of Thrift Supervision (OTS) (within the United States Department of the Treasury) to regulate thrifts.
Posted by  LISA Life Insurance Settlement Association
 
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