Press Releases

May 13, 2008

OTS 08-016 - OTS Enhances Consumer Service

Office of Thrift Supervision

OTS Enhances Consumer Service

Washington, D.C. -- The Office of Thrift Supervision (OTS) launched an enhanced, centralized service today for assisting customers of OTS-regulated savings institutions.

The new OTS Consumer Response Center will be available for consumers' telephone calls Monday through Friday, 8:00 a.m. to 5:30 p.m. EST. Consumers who need information or wish to file a complaint about an institution regulated by the OTS can reach the center through a toll-free number: 1 (800) 842-6929.

"We are pleased to enhance our service so consumers can reach the OTS more easily than ever," said Montrice Yakimov, OTS Managing Director of Compliance and Consumer Protection. "This is just the latest step in meeting our commitment to be a regulator that is expert, accessible and responsive to the needs of Americans who rely on our institutions to fulfill their financial services needs."

OTS has a staff in its Washington headquarters, as well as in four regional offices (San Francisco, Dallas, Atlanta and Jersey City), who work with consumers to investigate their complaints and seek resolution by the affected financial institutions.

The OTS also analyzes consumer complaints to detect trends within particular institutions and more broadly across the industry. OTS examiners use this complaint data to identify areas of focus during periodic on-site examinations. Complaint data can also reveal areas of need for agency regulation or guidance to the industry.

The Office of Thrift Supervision, an office of the Department of the Treasury, regulates and supervises the nation's thrift industry. OTS's mission is to ensure the safety and soundness of, and compliance with consumer protection laws by, thrift institutions, and to support their role as home mortgage lenders and providers of other community credit and financial services. OTS also oversees the activities and operations of thrift holding companies that own or control thrift institutions. Copies of OTS news releases and other documents are available at the OTS web page at www.ots.treas.gov.

Created: Monday, 5/12/2008

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