Federal Savings And Loan Insurance Corporation
   Established under the provisions of the National Housing Act of 1934, the Federal Savings and Loan Insurance Corporation provided insurance for loans and the equivalent security as that offered to banks through the Federal Deposit Insurance Corporation (FDIC). It offered insurance on individual accounts of up to $5,000 and by 1940 had insured more than 2,000 accounts. The corporation went insolvent during the savings and loans crisis of the 1980s and was incorporated into the FDIC.

Historical Dictionary of the Roosevelt–Truman Era . . 2015.

Look at other dictionaries:

  • Federal Savings and Loan Insurance Corporation — The Federal Savings and Loan Insurance Corporation (FSLIC) was an institution that administered deposit insurance for savings and loan institutions in the United States. It was abolished in 1989 by the Financial Institutions Reform, Recovery and… …   Wikipedia

  • Federal Savings and Loan Insurance Corporation — a public corporation, established in 1934, that insures, up to a specified amount, all deposits in member savings and loan associations. Abbr.: FSLIC * * * …   Universalium

  • Federal Savings and Loan Insurance Corporation — a public corporation, established in 1934, that insures, up to a specified amount, all deposits in member savings and loan associations. Abbr.: FSLIC …   Useful english dictionary

  • Federal Savings and Loan Insurance Corporation — (FSLIC)  FSLIC was a quasi government organization created during the Depression to insure depositor’s funds in Savings & Loans. FSLIC went bankrupt in the 1980s. Bankrupt S&Ls* were taken over by the RTC*, and solvent S&Ls became members of… …   American business jargon

  • Savings and Loan Insurance Corporation — A corporation created by Congress to insure the accounts of all federal savings and loan associations and the accounts of building and loan, savings and loan, homestead associations, and co operative banks organized and operating under state law… …   Ballentine's law dictionary

  • 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

  • Savings And Loan Crisis - S&L — One of the largest financial scandals in U.S. history, the Savings and Loan Crisis emerged in the late 1970s and came to a head in the 1980s, finally ending in the early 1990s. In the volatile interest rate climate of the 70s, large numbers of… …   Investment dictionary

  • savings and loan association — One of a number of types of mutually owned, cooperative, savings associations, originally established for the primary purpose of making loans to members and others, usually for the purchase of real estate or homes; though in the 1980 s S & L s… …   Black's law dictionary

  • Savings-and-Loan-Krise — Die Savings and Loan Krise (englisch Savings and Loan Crisis) war eine Bankenkrise in den 1980er Jahren in den Vereinigten Staaten. Über 1.000 Savings and Loans in den USA brachen im Rahmen der Krise zusammen. Der Gesamtschaden betrug über 150… …   Deutsch Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”