The federal law that set up the SAIF to insure savings and loan deposits was the:
A) Depository Institutions Deregulation and Monetary Control Act
B) Garn-St Germain Depository Institutions Act
C) Financial Institutions Reform, Recovery and Enforcement Act
D) Competitive Equality in Banking Act
E) None of the above

Question

Quizplus · Accepted Answer

The Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) established the Savings Association Insurance Fund (SAIF) to insure deposits in savings and loan associations, as part of the efforts to address the savings and loan crisis of the 1980s.

The Federal Law That Set Up the SAIF to Insure