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This section identifies the criteria that the Office of the Comptroller of the Currency (OCC) uses to determine whether an activity is authorized as part of, or incidental to, the business of banking under 12 U.S.C.
Office of Financial Regulation has three divisions (Financial Institutions, Consumer Finance, and Securities) and one bureau (Financial Investigations) that oversee and regulate a wide-range of financial enterprises and individuals, including state-chartered banks, credit unions, mortgage loan originators, securities ...
Established by Congress as a bureau of the Department of the Treasury on August 9, 1989, the Office of Thrift Supervision (OTS) charters, examines, supervises, and regulates federal savings associations insured by the Federal Deposit Insurance Corporation (FDIC).
Share This Page: The Office of the Comptroller of the Currency (OCC) is the primary regulator of banks chartered under the National Bank Act (12 USC 1 et seq.) and federal savings associations chartered under the Home Owners Loan Act of 1933 (12 USC 1461 et seq.).
The Office of Thrift Supervision was a bureau of the U.S. Treasury Department that was responsible for issuing and enforcing regulations governing the nation's savings and loan industry.
In the late 1980s and the 1990s, hundreds of savings institutions failed. To revive and supervise the struggling industry, the Office of Thrift Supervision (OTS) was created under the Treasury Department to replace the independent Federal Home Loan Bank Board.
The OTS or Office of Thrift Supervision is the primary regulator of all federal, and many state-chartered thrift institutions, including savings banks and savings and loan institutions.
The full form of the term OTS is One-time Settlement. It is a mechanism employed by lenders/banks to recover money from people who have either made a default payment or have a history of default payments. In this process, the lender proposes and agrees to OTS.