The Garn-St. Germain Act of 1982 expanded the types of assets in which S&Ls could invest. The acceptable list now includes:
A) Consumer loans.
B) Commercial loans.
C) Municipal securities.
D) a and c only.
E) All of the above.

Question

Quizplus · Accepted Answer

The Garn-St. Germain Depository Institutions Act of 1982 allowed Savings and Loan associations (S&Ls) to diversify their activities by permitting investments in a wider range of assets, including consumer loans, commercial loans, and municipal securities, among others. This was part of the effort to make S&Ls more competitive and financially stable.