{"ok":true,"canonical_url":"https://dealroom.so/glossary/firrea","api_url":"https://dealroom.so/api/public/glossary/firrea","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"firrea","term":"FIRREA","aka":"Financial Institutions Reform, Recovery, and Enforcement Act","group":"People and paperwork","definition":"A federal law enacted in 1989 to reform the financial industry and strengthen regulatory oversight of banks and savings institutions. It impacts how lenders are regulated and how they conduct business.","what_it_means":"While not directly about your SBA loan, FIRREA's regulations influence the broader banking environment and how lenders operate. It sets standards for appraisals and financial reporting, indirectly affecting how your lender assesses the business and its collateral during underwriting.","url":"https://dealroom.so/glossary/firrea","official_sources":[],"related":[{"slug":"lender","term":"Lender","url":"https://dealroom.so/glossary/lender"},{"slug":"underwriting","term":"Underwriting","url":"https://dealroom.so/glossary/underwriting"},{"slug":"appraisal","term":"Appraisal","url":"https://dealroom.so/glossary/appraisal"},{"slug":"compliance","term":"Compliance","url":"https://dealroom.so/glossary/compliance"}],"related_questions":[]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — FIRREA","url":"https://dealroom.so/glossary/firrea","source_type":"DealRoom Data"}}