WASHINGTON — John Reich, the current director of the Office of Thrift Supervision, has announced he will step down before the end of February.
The agency said Reich had long said he planned to leave before the end of his five-year term. Scott Polakoff, senior deputy director and chief operating officer, will become acting director upon Reich's departure and will hold the position until the Obama administration appoints someone to the position.
Reich was nominated for the post by former President George W. Bush. In his capacity as director, Reich also serves as a member of the Board of Directors of the FDIC.
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Reich joined the OTS after serving since November 2002 as vice chairman of the FDIC board. He also served as acting chairman of the FDIC from July 2001 to August 2001.
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