The statements regarding savings and loans (S&Ls) are all true EXCEPT:________

a. S&Ls are not covered by federal deposit insurance.
b. S&Ls are deposit-taking financial institutions.
c. During the 1970s, inflation made savers less willing to deposit their money in S&Ls.
d. Because of the troubles that S&Ls experienced in the 1970s, Congress loosened regulations on S&Ls.
e. During the real estate boom in the 1970s and 1980s, S&Ls took on more risky loans.