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TeachMeFinance.com - explain FHLBB FHLBB -- see Federal Home Loan Bank Board. Federal Home Loan Bank Board (FHLBB) -- a former independent agency in the executive branch of the federal government that regulated and supervised the savings and loan industry, the Federal Home Loan Banks, the Federal Savings and Loan Insurance Corporation and the Federal Home Loan Mortgage Corporation. The Bank Board was abolished in August 1989 by the Financial Institutions Reform, Recovery and Enforcement Act of 1989 and its functions transferred to other agencies, including the Office of Thrift Supervision. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.