Concept information
Preferred term
savings and loan scandal
Definition
- During the 1980s, a large number of savings and loan depository institutions in the United States failed or suffered severe financial distress because of changing financial regulations, widespread financial mismanagement, and a surge of financial crimes perpetrated by, in many instances, officers of the affected institutions. This wave of financial failures, unprecedented since the difficult economic years of the Great Depression, came to be known as the savings and loan scandal. [Source: Encyclopedia of Business Ethics and Society; Savings and Loan Scandal]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/savings_and_loan_scandal
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