A federal law enacted in 1989 aimed at restructuring the regulatory framework for savings and loan associations, improving deposit insurance, and addressing systemic issues within the financial sector to mitigate the impact of future crises.
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) was enacted in response to the Savings and Loan (S&L) crisis, aiming to restructure the regulatory framework and revitalize the financial industry.
