Question

In 1989, Congress took major steps to establish depository institution accountability by requiring these institutions to hold more capital as they take on riskier assets. Which of the following congressional acts imposed these capital standards on depository institutions? A) Financial Institutions Reform, Recovery, and Enforcement Act B) Secure and Fair Enforcement for Mortgage Licensing Act C) Riegle Community Development and Regulatory Improvement Act D) Depository Institutions Deregulation and Monetary Control Act

Answer 1

Answer:

A) Financial Institutions Reform, Recovery, and Enforcement Act

Explanation:

Financial Institutions Reform, Recovery And Enforcement Act -

The act is used in order to make sure that the real states appraisal are done up to the standard levels .

This acts have complete and accurate documentations , supervisory standards and , the regulation on the competency of appraisers .

In the year of 1989 , this act was imposed by the congress .