National Bank Supervisor - Abolition of the OTS
The consolidation of bank regulators is another facet of the Obama Administration’s financial regulatory reform. Their proposal suggests creating the National Bank Supervisor (NBS) through the consolidation of the Office of Thrift Supervision (OTS) and the Office of the Comptroller of the Currency (OCC). This consolidation would also eliminate the thrift charter and thrift holding company framework. All thrift charters would convert to a national bank charter.
Legislation creating this entity is currently being considered in the House Financial Services Committee.