NEW ORLEANS-In her farewell address to the thrift industry, Clinton-appointed Office of Thrift Supervision (OTS) Director Ellen Seidman reviewed her four-year tenure as a time of enhanced profitability and stability for both OTS and the thrift industry. President George W. Bush has nominated James Gilleran to serve the remainder of her term through October 23, 2002. In a speech at the America’s Community Bankers annual convention, she encouraged every thrift to adopt a strategic vision that “focuses on long-term profitability” and recognizes what makes each thrift special. She discussed the improvements made to the thrift charter through OTS regulations, guidance, handbooks and opinions, as well as through its work with Congress and with other federal and state financial regulators. She pointed out that since she arrived, OTS has updated fiduciary powers, issued guidance on electronic operations, improved interest rate risk bulletins and models, and issued a completely revised trust handbook that is modern and forward-looking. During Seidman’s tenure, the skills of the staff were substantially upgraded even as the agency was being downsized; OTS began refilling examiner spots; a more efficient application process; improved communications with the industry; and other items.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.