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Suffolk County Federal Savings and Loan Association, once a prominent financial institution in New York, faced significant challenges during the savings and loan crisis of the late 1980s and early 1990s. As a result of mounting financial difficulties, the institution ultimately failed and was closed by regulators in 1991. Its assets and liabilities were subsequently transferred to a newly formed institution, ensuring that depositors were protected and that the financial system remained stable.

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4mo ago

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