Study notes. AI-assisted reference for NMLS SAFE exam prep — verify against primary sources (CFR, statute, CFPB) before relying on it. Not legal advice.
Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)
federalbankingregulation-z
The Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) is a federal statute enacted in 1989 in response to the savings and loan crisis. It significantly strengthened the regulation and oversight of financial institutions.
FIRREA is cited as one of the authorizing statutes for Regulation Z (12 CFR Part 1026), particularly for Subpart A, which covers general provisions, authority, and definitions related to consumer credit. Its provisions contribute to the broad authority under which the Consumer Financial Protection Bureau (CFPB) issues and enforces Regulation Z.
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