Dodd-Frank: Abolition of OTS will boost OCC
OTS and OCC light-touch supervision grew bank assessment fees but fed institutional collapses
The vote to approve financial regulatory reform legislation in the US House of Representatives on June 30 represents the penultimate nail in the coffin for the soon-to-be abolished Office of Thrift Supervision (OTS).
Congressmen voted 237 votes to 192 in favour of passing the Dodd-Frank Wall Street Reform and Consumer Protection Act on Wednesday evening. All that stands between the bill and President Obama’s desk is a corresponding favourable vote in the Senate, although the death of senator
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