Office of Thrift Supervision
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The Office of Thrift Supervision (OTS) is part of the U.S. Department of Treasury.
The OTS supervises a national thrift industry that is built on the bedrock of the American dream of homeownership—supplying affordable home financing for Americans from all walks of life.[1]
Its mission is "To supervise savings associations and their holding companies in order to maintain their safety and soundness and compliance with consumer laws, and to encourage a competitive industry that meets America's financial services needs."[2]
Contents
Organization
- John E. Bowman became Acting Director of the OTS in March 2009. Bowman also serves as a member of the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) and the Federal Financial Institutions Examination Council (FFIEC).
Structure
The OTS has a highly skilled staff of more than 1,000 employees operating out of its headquarters in Washington, D.C., and four regional offices in Jersey City, Atlanta, Chicago and Dallas.
Regulatory authority
The OTS examines each savings association every 12-to-18 months to assess the institution’s safety and soundness, and compliance with consumer protection laws and regulations. In addition, examiners monitor the condition of thrifts through off-site analysis of regularly submitted financial data and regular contact with thrift personnel. OTS examinations and its ongoing supervisory oversight are tailored to the risk profile of each institution.[3]
Financial crisis
Contact details
1700 G Street NW
Washington, D.C. 20552
- Phone: (202) 906-6000
- Website: http://www.ots.treas.gov/
Articles and resources
Related SourceWatch articles
References
- ↑ From OTS website About Page, accessed February 23, 2010.
- ↑ From OTS website Mission and Goals Page, accessed February 23, 2010.
- ↑ From OTS website Profile Page, accessed February 23, 2010.
