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| Economy |
| Bank Regulator on Leave Pending Inquiry |
| 2009-03-27 |
| The Office of Thrift Supervision (OTS) announced the sudden replacement of Scott Polakoff as acting director yesterday evening. OTS is a unit of the Treasury Department that regulates banks focused on mortgage lending. The Treasury's inspector general is investigating a number of instances in which OTS employees allowed banks to exaggerate their financial health in required filings by including money they did not receive until after the reporting period. One senior OTS official has already been relieved of his duties & 'agreed' to resign. The OTS has acknowledged 4 other episodes. Sec. Geithner has appointed another acting director. |
| Posted by:Anguper Hupomosing9418 |