Sunday, March 24, 2013
OCTOBER 15 1982 – U.S. CONGRESS PASSES GARN - ST. GERMAIN DEPOSITORY INSTITUTIONS ACT
1982 – U.S. CONGRESS PASSES GARN - ST. GERMAIN DEPOSITORY INSTITUTIONS ACT
The act deregulated savings and loan associations and allowed banks to provide adjustable-rate mortgage loans. Many believe it contributed to the savings and loan crisis of the late 1980s.
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