The FSLIC was established by the National Housing Act of 1934, which was signed into law by President Franklin D. Roosevelt on June 27, 1934.
[1] The FSLIC was administered by the Federal Home Loan Bank Board (FHLBB).
Pursuant to the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), the FSLIC was abolished along with the FHLBB, and the FSLIC savings and loan deposit insurance responsibility was transferred to the FDIC.
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) abolished the FSLIC, and it transferred the responsibility for savings and loan deposit insurance to the Federal Deposit Insurance Corporation (FDIC).
As of 2020 the FDIC continued to administer the FRF, which has paid off the FICO debt but still collects money due from court judgments and terminated receiverships.