Failed Thrifts: No Compelling Evidence of a Need for the Federal Asset Disposition Association

In response to a congressional request, GAO assessed the Federal Savings and Loan Insurance Corporation's (FSLIC) continued need for the Federal Asset Disposition Association (FADA) to determine: (1) the legality of the Federal Home Loan Bank Board's (FHLBB) creation of FADA; and (2) whether FSLIC continued to need FADA.