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TeachMeFinance.com - explain Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) -- legislation that abolished the FSLIC and established a new deposit insurance fund, SAIF, for savings institutions, appropriated funds and created the Resolution Trust Corporation to dispose of failed thrifts, imposed wide-ranging changes in savings institution investment activities and operations, and created the Office of Thrift Supervision as part of a restructuring of the federal thrift regulatory and supervisory systems. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.