WASHINGTON — The Office of Thrift Supervision recently announced that it is restructuring its regional map to establish a new Central Region as part of its restructuring.
The new regional office, headquartered in Chicago, will supervise OTS-regulated thrifts and their holding companies in Ohio, Illinois, Indiana, Wisconsin and Michigan. The effective date of operation is the start of the third quarter of 2007.
Also, as part of the restructuring, the Southeast Region will assume oversight of thrifts based in Tennessee from the Midwest Region and the Midwest will take on the additional responsibility of the Dakotas from the West Region.
After the restructuring, OTS will have five regional offices, up from four. NCUA cut back from six to five regions beginning Jan. 1, 2004.
"A determining factor in our decision to restructure our regional map and establish an OTS presence headquartered in Chicago is focusing strategic agency resources in this important area, as well as other regions that will benefit from more focused regionalization," OTS Director John Reich stated. "The addition of the Central Region will enable the OTS to concentrate resources more proximately to the unique issues affecting institutions and consumers in that region and other regions."
The OTS Central Regional office will open for business officially on or about July 1, 2007, headed up by Thomas A. Barnes, currently the Regional Deputy Director in the Northeast Regional Office. He has 22 years with OTS and its predecessor, the Federal Home Loan Bank Board.
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