In 1989 Congress increased oversight of S&Ls and allowed two government agencies, Fannie Mae and Freddie Mac, to take over much of the home mortgage lending previously done by the thrifts.

Question

Quizplus · Accepted Answer

This statement is true. The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 increased oversight of S&Ls and transferred much of the home mortgage lending previously done by the thrifts to Fannie Mae and Freddie Mac.

In 1989 Congress Increased Oversight of S&Ls and Allowed Two