New Acting Director At The OTS

Treasury Secretary Tim Geithner has appointed John E. Bowman, deputy director and chief counsel for the Office of Thrift Supervision (OTS), as acting director of the OTS, effective immediately.

OTS Senior Deputy Director and Chief Operating Officer Scott M. Polakoff, who was serving as acting director, is on leave pending a review by the Treasury of the OTS' August 2008 actions related to post-period capital contributions.

The investigation concerns allegations about the OTS' allowing IndyMac to backdate capital infusions last year, according to TheStreet.com.

SOURCE: OTS, TheStreet.com

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