Financial Institutions Reform, Recovery, and Enforcement Act of 1989

E82915

United States federal statute banking law financial regulation law

The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 is a U.S. federal law enacted in response to the savings and loan crisis, overhauling the regulation of thrift institutions, strengthening enforcement powers, and restructuring federal deposit insurance.

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Observed surface forms (1)

Surface form	Occurrences
FIRREA	1

Statements (46)

Predicate	Object
instanceOf	United States federal statute ⓘ banking law ⓘ financial regulation law ⓘ
abolishedAgency	Federal Home Loan Bank Board ⓘ Federal Savings and Loan Insurance Corporation ⓘ
aimsTo	limit taxpayer exposure to thrift failures ⓘ protect depositors ⓘ restore public confidence in the savings and loan industry ⓘ
alsoKnownAs	Public Law 101-73 ⓘ
authorized	funding to resolve failed savings and loan institutions ⓘ
containsProvision	expanded jurisdiction for federal prosecutors in financial institution crimes ⓘ increased penalties for fraud against financial institutions ⓘ removal and prohibition orders for institution-affiliated parties ⓘ
country	United States of America ⓘ surface form: United States
createdAgency	Office of Thrift Supervision ⓘ Resolution Trust Corporation ⓘ
dateEnacted	1989-08-09 ⓘ
enactedInResponseTo	savings and loan crisis ⓘ
established	new accounting standards for thrifts ⓘ new capital requirements for thrifts ⓘ new supervisory standards for thrifts ⓘ
hasLongTitle	An Act to reform, recapitalize, and consolidate the Federal deposit insurance system, to enhance the regulatory and enforcement powers of Federal financial institutions regulatory agencies, and for other purposes ⓘ
jurisdiction	federal ⓘ
legislativeBody	United States Congress ⓘ
primaryPurpose	reform regulation of thrift institutions ⓘ restructure federal deposit insurance system ⓘ strengthen enforcement powers against financial institutions ⓘ
providesFor	administrative enforcement actions ⓘ civil money penalties against financial institutions ⓘ expanded criminal enforcement authority ⓘ
regulates	federally insured thrifts ⓘ savings and loan associations ⓘ
restructured	federal deposit insurance for thrifts ⓘ
sector	financial services ⓘ
shortName	Financial Institutions Reform, Recovery, and Enforcement Act of 1989 self-linksurface differs ⓘ surface form: FIRREA
signedBy	George H. W. Bush ⓘ
strengthenedPowersOf	Federal Deposit Insurance Corporation ⓘ federal banking regulators ⓘ
subjectMatter	banking supervision ⓘ deposit insurance ⓘ financial institution enforcement ⓘ thrift institution regulation ⓘ
title	Financial Institutions Reform, Recovery, and Enforcement Act of 1989 self-link ⓘ
transferredFunctionsTo	Federal Deposit Insurance Corporation ⓘ Office of Thrift Supervision ⓘ
year	1989 ⓘ

Referenced by (8)

Full triples — surface form annotated when it differs from this entity's canonical label.

Community Reinvestment Act → amendedBy → Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ⓘ

Home Mortgage Disclosure Act → amendedBy → Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ⓘ

FHLBB → dissolutionCause → Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ⓘ

Federal Home Loan Bank Board → dissolvedBy → Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ⓘ

Office of Thrift Supervision → legalBasis → Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ⓘ

101st United States Congress → passedLegislation → Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ⓘ

Financial Institutions Reform, Recovery, and Enforcement Act of 1989 → shortName → Financial Institutions Reform, Recovery, and Enforcement Act of 1989 self-linksurface differs ⓘ

this entity surface form: FIRREA

Financial Institutions Reform, Recovery, and Enforcement Act of 1989 → title → Financial Institutions Reform, Recovery, and Enforcement Act of 1989 self-link ⓘ