The Depository Institutions Deregulation and Monetary Control Act of 1980 significantly reformed the banking industry by removing regulatory constraints and enhancing the Federal Reserve's control over monetary policy.
Federal Savings and Loan Associations are federally chartered institutions with a primary responsibility to accept people's savings deposits and provide mortgage loans for residential housing. Their role and scope were broadened by the Depository Institutions Deregulation and Monetary Control Act of 1980. Accounts are insured up to $250,000 by the FDIC.
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