3. DIDMCA and further issues for Savings & Loans The Depository Institution Deregulation and Monetary Control Act (DIDMCA) phased out Regulation Q and allowed thrifts to pay "market rates of Interest" on some deposit accounts The interest rates needed to attract depositors were their main source of income. than the interest rates on the 30-year mortgages that provided most thrifts with The Garn-St Germain Depository Institution Act of 1982 allowed Savings & Loans to make commercial, corporate, business, or agricultural loans up to 10% of the Institution's assets after January 1, 1984. The act also allowed Savings & Loans to increase their consumer lending-from 20% to 30% of assets--and to expand lending to auto dealers True or False: Savings & Loans had extensive experience lending in these industries, leading to very low-risk loans with low interest rates. True False The saying "heads I win, tails the government loses refers to the ability and tendency of the owners of Savings & Loans to internalize while pushing onto the public