The Savings and Loan Crisis was a financial disaster in the United States during the 1980s and early 1990s. It involved the collapse of about 1,000 savings and loan associations, which were institutions that provided home loans and accepted deposits. Poor management, risky investments, and deregulation led to significant losses, costing taxpayers around $124 billion. The crisis prompted government intervention, including the creation of the Resolution Trust Corporation to manage and sell the assets of failed institutions. Reforms were implemented to strengthen regulations and prevent similar crises in the future, reshaping the landscape of the banking industry.