The Senate Permanent Committee on Investigations has called on the Office of the Comptroller of the Currency to dismantle the Office of Thrift Supervision for its failure to act on lending and securitization risks before the onset of the financial crisis in 2008. The committee’s 650-page report makes numerous recommendations after assessing the cause of the crisis and laying blame on may agencies and firms. Among the recommendations is a requirement that regulators ensure that all qualified residential mortgages have a low risk of delinquency or default.
