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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.
The Office of the Comptroller of the Currency (OCC) is an independent bureau of the U.S. Department of the Treasury. The OCC charters, regulates, and supervises all national banks, federal savings associations, and federal branches and agencies of foreign banks.
The OCC charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks. The OCC is an independent bureau of the U.S. Department of the Treasury.
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.
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.
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).