The Office of Thrift Supervision (OTS), the successor to the Federal Home Loan Bank Board, was established by Congress on August 9, 1989 as the primary federal regulator of all federal and state-chartered savings institutions across the nation that belong to the Savings Association Insurance Fund (SAIF). OTS issues federal charters for savings and loan associations and savings banks. This Bureau also adopts and enforces regulations to ensure that both federal and state-chartered thrift institutions operate in a safe and sound manner.
The OTS headquarters is in Washington, D.C. Working out of local offices organized into five regions, OTS staff examine and supervise savings institutions throughout the country.