Office of Thrift Supervision

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Office of Thrift Supervision (OTS)

An agency of the U.S. Treasury department responsible for the U.S. savings and loan industry.

Office of Thrift Supervision

A bureau of the U.S. Department of the Treasury that regulates federal savings associations, savings and loan associations (thrifts), and some holding companies. Created in 1989 in the wake of the savings and loan crisis, the OTS both provides charters and creates regulations for thrifts and other institutions that fall under its supervision. Additionally, it audits the practices of financial institutions that specialize in personal savings and mortgage loans to ensure that they comply with applicable regulations. Based in Washington, D.C., the OTS also maintains offices in Jersey City, Atlanta, Dallas, Chicago, and San Francisco. See also: FIRREA.

Office of Thrift Supervision (OTS)

A primary regulator of federal- and state-chartered savings associations. OTS (www.ots.treas.gov) was established as a bureau of the Department of the Treasury in 1989.

References in periodicals archive ?
OTS Facebook fans can enter their favorite holiday beverage in the "Mocktail" Recipe Contest between December 21, 2009 and January 13, 2010.
The capability developed by the OTS team will enable us [NFELC] to better serve our deploying customers.
At the same time as it hits Hong Kong, OTS is also expanding into markets in China, Indonesia, Singapore, Japan and South Korea.
The remedy for such regulatory haplessness was the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, which dissolved the Federal Home Loan Banks and erected in their place the powerful OTS to supervise the remaining thrifts.
However, despite the statutory requirement that institutions be given a reasonable time to submit a CRP, the OTS demanded that the Bank submit a CRP within seven days, a clearly unreasonable request in excess of its statutory authority.
OTS already has an office in California in west coast and with this new office, we shall now be able to serve and cover major portions of the country.
By letter dated May 22, 2009, the OTS modified the Directive to extend the five (5) day time frame to June 15, 2009, and the ten (10) day recapitalization deadline to July 31, 2009.
Malig covered all applications but concentrated on the capability of the OTS "file/text upload" feature since Weems is the person responsible for submitting all off-ship requisitions into the supply system.
As a result of a variety of factors, including significant losses at H&R Block's mortgage subsidiary, H&R Block had been out of compliance with the OTS 3% Rule for a considerable time.
com)-- OTS Solutions (“OTS”) today announced that they will be attending Digital Signage World Asia 2012 at Suntec Singapore International Convention and Exhibition Centre, Singapore from 25th April to 27th April, 2012.
OTS now provides access to "live" customer support from Global Distance Support Center (GDSC) and Logistics Support Center (LSC) customer service representatives 24 hours a day, seven days a week.
The OTS issued a bulletin in August urging savings associations to use caution when investing in structured notes.