Thrifts post 1Q net income of $1.82B, By MARCY GORDON The Associated Press Monday, May 24, 2010; 7:29 PM

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Many lawmakers and consumer advocates have criticized the OTS for what they say was lax oversight of the thrift industry in the run-up to the financial crisis. The previous OTS director, Scott Polakoff, was put on leave pending an investigation into improper backdating of cash infusions at six thrifts including IndyMac. He later left the government. Sweeping legislation to overhaul financial regulations that passed the Senate last week calls for abolishing the OTS.

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