Garn-St. Germain Depository Institutions Act
(redirected from Garn St. Germain Depository Institutions Act of 1982)

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Garn-St. Germain Depository Institutions Act

Legislation in the United States allowing federal savings and loan associations to offer adjustable-rate mortgages.. The Act was passed to encourage homeownership by making loans available to more persons. However, it is considered to have contributed to the savings and loan crisis, whereby a large number of S&Ls failed in the late 1980s. The Act was passed in 1982.

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Garn-St. Germain Depository Institutions Act (redirected from Garn St. Germain Depository Institutions Act of 1982)

Garn-St. Germain Depository Institutions Act
(redirected from Garn St. Germain Depository Institutions Act of 1982)