On March 16, the Office of Thrift Supervision (OTS) announced plans to realign its regional office structure in order to improve efficiency and support regulatory consistency. The OTS is reducing the number of regional offices from five to four: (i) Northeast region (Jersey City); (ii) Southeast region (Atlanta); (iii) Central region (Chicago); and (iv) Western region (Dallas). The Central region’s oversight will expand to include thrifts in Minnesota, Iowa, Nebraska, South Dakota and North Dakota, and all of the former Western region and much of the former Midwest region will combine to form the new Western region. Any changes to caseload assignments will be communicated to affected institutions by the regional staff.
OTS is also creating a new executive-level position in Washington, D.C., responsible for executing the large bank oversight program announced on February 26 for institutions with greater than $10 billion in assets.