FIRREA: translation
Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)
A federal law enacted in 1989. FIRREA primarily addresses the operation of savings and loan associations; however, it includes a number of important provisions affecting commercial banks. Arguably the most important FIRREA provisions affecting banks are those that address requirements for real estate appraisals. American Banker Glossary
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( Financial Institutions Reform, Recovery and Enforcement Act of 1989)
Legislation that established the Office of Thrift Supervision, which was created in the wake of the savings and loan crisis of the late 1980s. Bloomberg Financial Dictionary