Office of Thrift Supervision - Reform

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.

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