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The resulting Competitive Equality Banking Act was signed on August 11, 1987, giving FSLIC $10.8 billion through sale of bonds via an off-balance sheet government entity. [69] [70] It also required thrift supervisors not to close thrifts that had equity ratios of more than 0.5 percent which met rather lax business viability criteria. [71]
"Commercial Law—Board of Governors of the Federal Reserve System v. Investment Company Institute: The Continuing Conflict Between Commercial and Investment Banking". North Carolina Law Review. 61: 378. ISSN 0029-2524. Norton, Joseph J. (1986). "Up against 'The Wall': Glass-Steagall and the Dilemma of a Deregulated (Reregulated) Banking ...
The U.S. savings and loan crisis of the 1980s and early 1990s was the failure of 747 savings and loan associations in the United States. The ultimate cost of the crisis is estimated to have totaled around $160.1 billion, about $124.6 billion of which was directly paid for by the U.S. federal government. [1]
McNally v. United States, 483 U.S. 350 (1987), was a case in which the United States Supreme Court decided that the federal statute criminalizing mail fraud applied only to the schemes and artifices defrauding victims of money or property, as opposed to those defrauding citizens of their rights to good government.
Supreme Court decisions, and notable decisions of other federal courts, involving banking. Pages in category "United States banking case law" The following 9 pages are in this category, out of 9 total.
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 to close hundreds of insolvent thrifts and provided funds to pay out insurance to their depositors.
(Reuters) -Major banks and business groups sued the Federal Reserve on Tuesday, alleging the U.S. central bank's annual "stress tests" of Wall Street firms violate the law. The lawsuit filed in U ...
Under the act, enforcement is divided by the type of institution, respective to each type's mandated oversight authority: For national banks, federal savings associations, federal savings banks, and federal branches and agencies of foreign banks, the act is enforced by the Office of the Comptroller of the Currency;