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FIRREA |
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FIRREA
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| However, neither section 308 of FIRREA nor the guidance issued under that section by the relevant agencies prohibits bank holding companies from acquiring minority depository institutions, and the current proposal does not involve the types of competing bids contemplated by section 308. Before FIRREA, thrifts were insured through the now-defunct Federal Savings and Loan Insurance Corp. The bank decided to make the loan, but FIRREA required a $3,500 appraisal. |
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