Which entity is typically responsible for enforcing FIRREA regulations?

The entity typically responsible for enforcing FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act) regulations is the Office of Thrift Supervision. This legislation was enacted in response to the savings and loan crisis of the 1980s and early 1990s, and it aimed to restore public confidence in the savings and loan industry by establishing stricter regulatory oversight. The Office of Thrift Supervision was specifically created to regulate federal savings associations and was active in enforcing FIRREA standards during its operation.

FIRREA includes provisions that address issues such as the oversight of federally insured depository institutions and their affiliates, as well as establishing guidelines for appraisals and real estate transactions to reduce fraud and protect consumers. The role of the Office of Thrift Supervision was central in implementing these measures until its functions were absorbed by the Office of the Comptroller of the Currency in 2011.

Understanding the historical context and the specific regulatory role of the Office of Thrift Supervision in enforcing FIRREA helps to clarify why it is the correct answer. Each entity listed has different regulatory responsibilities, but the enforcement of FIRREA specifically aligns with the mandate of the Office of Thrift Supervision.