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| FOR RELEASE at 10:00 A.M. EDT | For further information | ||||
| Thursday, June 10, 2004 | Contact: Erin Hickman | ||||
| OTS 04-21 | 202/906-6677 | ||||
WASHINGTON – The Office of Thrift Supervision (OTS) announced today that it has updated its appeals process guidance that applies to holding companies and individuals affected by an OTS supervisory decision, as well as to savings associations. Thrift Bulletin 68, dated July 15, 1996 is rescinded.
OTS’s appeals process covers material supervisory determinations such as examination ratings, the adequacy of loan loss reserve provisions or significant loan classifications. OTS has expanded the appeals process to include the review and appeal of the risk or complexity classification that OTS uses in calculating holding company assessments. It does not apply to the decision to appoint a conservator or receiver, preliminary examination findings or any decision relating to formal enforcement-related actions.
OTS encourages the resolution of issues through informal communications between affected parties and OTS regional staff. If an issue cannot be successfully resolved at this level, affected parties may appeal to the OTS Managing Director for Examinations, Supervision and Consumer Protection. The updated bulletin issued today, Thrift Bulletin 68a, Appeals and Ombudsman Matters, contains specific guidance on the procedures for filing an appeal.
The OTS Ombudsman’s office is available to address complaints on other matters. The Ombudsman informs affected parties on available mechanisms for resolving concerns and complaints related to actions by OTS and its employees, and responds to issues not otherwise covered by an established process of dispute resolution. The OTS Ombudsman may be contacted by calling 202-906-7945; by writing to: Ombudsman, Office of Thrift Supervision, 1700 G ST., NW, Washington, DC 20552; or via email at ombudsman@ots.treas.gov.
The Office of Thrift Supervision (OTS), a bureau of the U.S. Treasury, regulates and supervises the nation's thrift industry. OTS's mission is to ensure the safety and soundness of thrift institutions and to support their role as home mortgage lenders and providers of other community credit and financial services. For copies of news releases or other documents visit the OTS web page at www.ots.treas.gov.
Created: Thursday, 6/10/2004