S&L crisis

The S&L (Savings and Loan) crisis was a financial collapse in the 1980s and early 1990s involving many savings and loan associations that specialized in home loans. Due to risky investments, deregulation, and economic factors, these institutions faced massive losses. As a result, many failed, costing taxpayers billions and leading to a significant overhaul of banking regulations. The crisis highlighted issues in oversight, risky lending practices, and economic instability, ultimately prompting reforms to prevent similar problems in the future.