Jonathan Fiechter

The Office of Thrift Supervision has named Jonathan Fiechter, deputy director of Washington operations, to succeed Timothy Ryan as director of the thrift regulator. Ryan, whose resignation was effective Friday, had served as director since April 9, 1990. He has not said what he plans to do after leaving office. Fiechter was deputy executive director of the Federal Home Loan Bank Board's Office of Regulatory Activities from 1987 to 1989, when he moved to the OTS.

Head of Office of Thrift Supervision to Leave: Jonathan Fiechter, who took over the federal agency that regulates savings and loans when the industry was starting to climb out of the hole, said his resignation will be effective Sept. 4. Fiechter, 48, who will join the World Bank as director of the financial sector development department, became acting director of the Office of Thrift Supervision at the end of 1992 but was never made director.

Head of Office of Thrift Supervision to Leave: Jonathan Fiechter, who took over the federal agency that regulates savings and loans when the industry was starting to climb out of the hole, said his resignation will be effective Sept. 4. Fiechter, 48, who will join the World Bank as director of the financial sector development department, became acting director of the Office of Thrift Supervision at the end of 1992 but was never made director.

The Office of Thrift Supervision has named Jonathan Fiechter, deputy director of Washington operations, to succeed Timothy Ryan as director of the thrift regulator. Ryan, whose resignation was effective Friday, had served as director since April 9, 1990. He has not said what he plans to do after leaving office. Fiechter was deputy executive director of the Federal Home Loan Bank Board's Office of Regulatory Activities from 1987 to 1989, when he moved to the OTS.

S&L Profits Continue to Grow: Savings and loan association profits rose 17% for the third quarter, extending their four-year recovery, the Office of Thrift Supervision said. The industry earned $1.6 billion for the quarter ended Sept. 30, compared to $1.4 billion for the previous three months.

The nation's 1,512 savings and loan institutions boosted their profits by 12.4% in the first three months of 1995, extending their recovery of the last five years. The Office of Thrift Supervision reported Thursday that the industry earned $1.18 billion during the quarter, up from $1.05 billion in the final three months of 1994. More than 90% of the thrifts were profitable.

Regulators Tuesday banned jailed financier Charles H. Keating Jr. from working for a bank or savings and loan and ordered him to pay $36 million in restitution for the failure of his Lincoln Savings & Loan Assn. The action, taken by Jonathan Fiechter, acting director of the Office of Thrift Supervision, caps an administrative procedure that began in August, 1990.

The savings and loan industry posted a record $5.4-billion profit in 1995, but regulators expressed concern Wednesday about underlying trends, including rising delinquencies on mortgages and consumer loans. Jonathan Fiechter, acting director of the Office of Thrift Supervision, said the nation's 1,437 thrifts reported lackluster return on average assets, an important measure of investment return.

President Bush has named Assistant Treasury Secretary Salvatore R. Martoche as acting director of the Office of Thrift Supervision, the agency that regulates the nation's savings and loan institutions. Martoche promised to "provide stability and leadership" to the government's oversight of the troubled S&L industry. The interim appointment fills the vacancy created by the resignation last December of M.

In a crackdown on windfall profits for some insiders, federal regulators imposed a moratorium Monday on mergers in which the stock of a depositor-owned savings and loan institutions is sold to the public. The action by the Office of Thrift Supervision was welcomed by Rep. Henry B. Gonzalez, chairman of the House Banking Committee. The Texas Democrat said it is a good first step to protect depositors when so-called mutual S&Ls are acquired by other companies.