Financial Institutions Reform, Recovery And Enforcement Act - FIRREA
- Financial Institutions Reform, Recovery And Enforcement Act - FIRREA
- A law enacted to ensure that real estate appraisals are performed up to standard. This includes regulation on the competency of the appraisers, supervisory standards and accurate and full documentation. The FIRREA also holds claim to the creation of the Resolution Trust Corporation, the restructuring of the regulation authority, the abolishment of the Federal Savings and Loan Insurance Corporation and the creation of the Savings Association Insurance Fund and the Bank Insurance Fund.
The FIRREA was enacted in 1989 following the savings and loan crisis. Its purpose was to create a more efficient, productive and effective base on which to build the industry and better serve as a safeguard for future transactions.
Investment dictionary.
Academic.
2012.
Look at other dictionaries:
Financial Institutions Reform, Recovery, and Enforcement Act — ( FIRREA) A federal law enacted in 1989. FIRREA primarily addresses the operation of savings and loan associations; however, it includes a number of important provisions affecting commercial banks. Arguably the most important FIRREA provisions… … Financial and business terms
Financial Institutions Reform, Recovery and Enforcement Act of 1989 — The Financial Institutions Reform Recovery and Enforcement Act of 1989 (FIRREA) is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s. It established the Resolution Trust Corporation (RTC) to close… … Wikipedia
Financial Institutions Reform, Recovery and Enforcement Act of 1989 — ( FIRREA) Legislation that established the Office of Thrift Supervision, which was created in the wake of the savings and loan crisis of the late 1980s. Bloomberg Financial Dictionary … Financial and business terms
National Commission on Financial Institution Reform, Recovery and Enforcement — The National Commission on Financial Institution Reform, Recovery, and Enforcement (NCFIRRE) was established as an independent advisory commission by the Crime Control Act of 1990 and terminated in 1993. The role of the Commission was created to… … Wikipedia
FIRREA — Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) A federal law enacted in 1989. FIRREA primarily addresses the operation of savings and loan associations; however, it includes a number of important provisions affecting… … Financial and business terms
Federal Financial Institutions Examination Council — The Federal Financial Institutions Examination Council, or FFIEC, is a formal interagency body of the United States government empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial… … Wikipedia
FIRREA — Financial Institutions Reform, Recovery, and Enforcement Act of 1989 Short Dictionary of (mostly American) Legal Terms and Abbreviations … Law dictionary
Community Reinvestment Act — The Community Reinvestment Act (CRA, Pub.L. 95 128, title VIII of the Housing and Community Development Act of 1977, 91 Stat. 1147, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial… … Wikipedia
Savings and loan crisis — The savings and loan crisis of the 1980s and 1990s (commonly referred to as the S L crisis) was the failure of 747 savings and loan associations (S Ls) in the United States. The ultimate cost of the crisis is estimated to have totaled around… … Wikipedia
Savings and loan association — A savings and loan association, also known as a thrift, is a financial institution that specializes in accepting savings deposits and making mortgage loans. The term is mainly used in the United States; similar institutions in the United Kingdom … Wikipedia
