The FIRREA of 1989 was passed because of which of the following?
A)the Savings and Loan Crisis
B)the 1988 presidential elections
C)the 1987 Banking Deregulation Act
D)the strengthening of the dollar

Question

Quizplus · Accepted Answer

The FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act) of 1989 was passed in response to the Savings and Loan Crisis, which was a major financial crisis in the United States in the 1980s and early 1990s. The crisis resulted in the failure of many savings and loan institutions and the need for a government bailout program. FIRREA was enacted to reform the industry and prevent such failures from happening in the future.

The FIRREA of 1989 Was Passed Because of Which of the Following