Financial Crisis Inquiry Commission

The Financial Crisis Inquiry Commission (FCIC) was established in 2009 to investigate the causes of the 2007-2008 financial crisis. The commission examined factors such as mortgage lending practices, financial regulation, and systemic risk within the banking sector. Their findings aimed to provide a comprehensive understanding of the crisis and recommend measures to prevent future occurrences.

Example

The FCIC’s report concluded that widespread failures in financial regulation and risky mortgage lending practices were significant contributors to the 2007-2008 financial crisis.