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Financial Institutions Reform, Recovery and Enforcement Act

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Financial Institutions Reform, Recovery and Enforcement Act (FIRREA)

(pronounced “fie-ree-ah”) Federal legislation passed in 1989 in response to the banking and savings and loan crisis, the FDIC bailout, and the bankruptcy of the Federal Savings and Loan Insurance Corporation (FSLIC). It reorganized much of the oversight and regulatory framework for financial institutions and created the Resolution Trust Corporation (now defunct) to receive and liquidate assets from failed financial institutions.



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Congress enacted the Financial Institutions Reform, Recovery and Enforcement Act in 1989 as a way to restore the ailing thrift industry to health.
COURT WILL HEAR DISPUTE OVER S&L ASSETS by Daily News (Los Angeles, CA)
FIRREA is the Financial Institutions Reform, Recovery and Enforcement Act of 1989, under Title XI of federal law.
Report finds banks returning to lax appraisal policies by Real Estate Weekly
Those pieces of legislation are the Financial Institutions Reform, Recovery and Enforcement Act of 1989, or
Local bankers complain of being buried by regulatory paperwork by Turner, Dan / Los Angeles Business Journal
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