OTS pays the price of failure
The US Office of Thrift Supervision will be abolished under the Dodd-Frank Act, but is the agency being made a scapegoat for the financial crisis or will its dissolution help mitigate regulatory arbitrage and raise supervisory standards? Peter Madigan reports
The signing into law of the landmark Dodd-Frank Wall Street Reform and Consumer Protection Act on July 21 finally puts in motion a package of reforms first circulated on Capitol Hill in August last year.
As market participants look to the Commodity Futures Trading Commission and Securities and Exchange Commission to flesh out the finer details of the rules, the end is nigh for another federal regulator, the Office of Thrift Supervision (OTS), which will be broken up within one year.
Some say
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