Garn-St Germain Depository Institutions Act

The Garn-St Germain Depository Institutions Act of 1982 is a law that modernized banking regulations, allowing savings and loan associations to offer a broader range of financial services and invest in different asset types. It aimed to promote financial stability, improve competition, and help thrifts (savings banks) adapt to changing markets. The act also included provisions to address the savings and loan crisis by providing regulatory flexibility while maintaining safeguards for depositors. Overall, it helped modernize the financial system and supported the evolution of banking institutions.