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:
“Letters are above all useful as a means of expressing the ideal self; and no other method of communication is quite so good for this purpose.... In letters we can reform without practice, beg without humiliation, snip and shape embarrassing experiences to the measure of our own desires....”
—Elizabeth Hardwick (b. 1916)
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We’ll preach deliverance to the soul.
‘Mid proud Oppression’s waning crash.”
—Ignis, U.S. women’s magazine contributor. The Genius of Liberty, pp. 9-10 (November 1853)