Which 1980s U.S. financial crisis involved the collapse of hundreds of savings and loan associations?

The 1980s U.S. financial crisis involving the collapse of hundreds of savings and loan associations was the savings and loan crisis.

Savings and loan institutions traditionally accepted deposits and made long-term mortgage loans. After deregulation, many expanded into riskier lending and investments while facing intense competition and changing interest rates. A large number of institutions became insolvent during the 1980s and early 1990s.

The federal government created the Resolution Trust Corporation in 1989 to resolve failed thrifts and dispose of their assets. The crisis cost taxpayers hundreds of billions of dollars when measured through its broader resolution and assistance programs. It is distinct from the 2007–2008 crisis, which centered much more heavily on securitized mortgages, investment banks, and global credit markets.