OTS Issues Bulletin Amending Board Oversight Guidance
Mondaq Business Briefing › United States Law Articles in English (2004)
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OTS Issues Bulletin Amending Board Oversight Guidance
The OTS issued a Regulatory Bulletin ("Bulletin 37-5") amending its examination guidance on the oversight duties of a thrift's Board of Directors. Bulletin 37-5 provides a new general description of the duties of the Board, listing, among other things, the Board's duty to: (1) establish business goals and strategies; (2) establish a strong compliance program; (3) establish appropriate committees with written charters; and (4) ensure affiliate transaction compliance. Regulatory B...
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