The Dodd-Frank Wall Street Reform and Consumer Protection Act: Impact on Thrifts
By V. Gerard Comizio & Lawrence D. Kaplan
This StayCurrent bulletin addresses the impact of the Dodd-Frank Act on thrift institutions and their holding companies. Thrift institutions, also known as savings associations, are a type of insured depository institution that is focused on mortgage or what is known as qualified thrift lending, and are chartered either under the laws of the United States under the Home Owners Loan Act (the HOLA) or else under state law. The current federal regulator of thrifts is the OTS. Holding companies of thrifts, known as savings and loan holding companies (SLHCs) are also currently regulated by the OTS. The Dodd-Frank Act imposes significant changes on the supervision and operations of thrifts and their holding companies.