Office of Thrift Supervision

The Office of Thrift Supervision (OTS) was a U.S. government agency responsible for regulating and overseeing savings and loan associations, also known as thrifts, which primarily focused on savings accounts and home mortgages. Established in 1989, it aimed to ensure the safety and soundness of these institutions and protect depositors. The OTS also enforced banking regulations and consumer protections. In 2011, the OTS was eliminated, and its responsibilities were transferred to the Office of the Comptroller of the Currency (OCC), part of an effort to streamline bank regulation in the U.S.