Seeking to level the high- tech playing field for thrifts and banks, the Office of Thrift Supervision is reexamining its existing regulations regarding savings institutions' use of emerging technologies in hopes of reforming the system.
Technology is such uncertain ground for the OTS that it's taken the admittedly unusual step of asking for industry input even before the agency puts out proposed new regulations for comment. "We seek (industry) counsel," says OTS Director Nicolas Retsinas. "We don't have all the answers. In this case, technology is outpacing current rules."