definition of the office of thrift supervision ots 
the office of thrift supervision was a bureau of the u s treasury department that was responsible for issuing and enforcing regulations governing the nation s savings and loan industry in 2011 the ots was merged with other agencies including the office of the comptroller of the currency the federal deposit insurance corporation fdic the federal reserve board of governors and the consumer financial protection bureau cfpb 1understanding the otsthis bureau was responsible for ensuring the safety and soundness of deposits in thrift banks it did this by auditing and inspecting the banks to see if government regulations and policies were being adhered to 