Legislation was tightened after the S & L crisis and at least according to Investopedia was the itself was due in part to lax oversight:

https://www.investopedia.com/terms/s/sl-crisis.asp

*What Could Regulators Have Done Better to Solve the Savings and Loan Crisis?*

"Regulators failed to stop savings and loans from using federally insured deposits to make risky loans. Reagan also cut the budget of the regulatory staff at the FHLBB, removing its ability to investigate high-risk loans. Certain states also passed laws that allowed savings and loans to invest in speculative real estate."

Remains to be see if the current administration's views on oversight and regulation allow a repeat.