Reform
- In 2008, then Treasury Secretary Henry Paulson proposed merging the OTS with the Office of the Comptroller of the Currency.
- On 17 June 2009 President Barack Obama announced that he would ask the United States Congress to merge OTS into the Office of the Comptroller of the Currency, which regulates federally chartered banks.
- In 2009, both the House and Senate proposals included merging OTS with the Office of the Comptroller of the Currency.
- In 2010, the US Senate passed legislation that would strengthen oversight of large financial institutions, but would continue to allow smaller banks to shop for their own regulator, a loophole sought by the Independent Community Bankers of America and the American Bankers Association.
Read more about this topic: Office Of Thrift Supervision
Famous quotes containing the word reform:
“All reform aims, in some one particular, to let the soul have its way through us; in other words, to engage us to obey.”
—Ralph Waldo Emerson (1803–1882)
“The prostitute is the scapegoat for everyone’s sins, and few people care whether she is justly treated or not. Good people have spent thousands of pounds in efforts to reform her, poets have written about her, essayists and orators have made her the subject of some of their most striking rhetoric; perhaps no class of people has been so much abused, and alternatively sentimentalized over as prostitutes have been but one thing they have never yet had, and that is simple legal justice.”
—Alison Neilans. “Justice for the Prostitute—Lady Astor’s Bill,” Equal Rights (September 19, 1925)
“People who love soft methods and hate iniquity forget this,—that reform consists in taking a bone from a dog. Philosophy will not do it.”
—John Jay Chapman (1862–1933)