Transfer of Office of Thrift Supervision functions is completed

This story appeared in Bank Digest.

The Treasury Office of Inspector General has completed its seventh and final joint review of the transfer, pursuant to Dodd-Frank Act, of the functions, employees, funds, and property of the former Office of Thrift Supervision (OTS) to the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC). In accordance with Title III of the Act, the transfer occurred in July 2011.