The Primary Reason for the Decline of the S&L Industry

question 3

True/False

The primary reason for the decline of the S&L industry was the passage of legislation that gave commercial lending powers to the SL industry.

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Definitions:

Criminal Law

A classification of law involving the rights and responsibilities an individual has with respect to the public as a whole.

Public Health

The science and art of preventing disease, prolonging life, and promoting health through organized efforts and informed choices of society, organizations, public and private, communities, and individuals.

Mens Rea

Latin for “guilty mind”; the mental state accompanying a wrongful behavior.

Common Law

A legal system based on custom, court rulings, and prior legal decisions, rather than by statutory laws.