http://uk.us.biz.yahoo.com/ap/090326/bank_regulator.html
AP
Top bank regulator placed on leave pending review
Thursday March 26, 11:55 pm ET
Acting head of OTS placed on leave pending review of backdated cash infusions for thrifts
WASHINGTON (AP) -- A top bank regulator has been placed on leave pending a Treasury Department investigation into regulators' approval of backdated cash infusions for troubled thrifts.
The Office of Thrift Supervision said Thursday its acting director, Scott Polakoff, was placed on leave. He is being replaced by OTS Chief Counsel John Bowman.
Polakoff, who is the agency's chief operating officer, had held the acting-director position only since last month following the resignation of OTS Director John Reich. The OTS gave no further details and agency spokesmen and Polakoff could not be reached for comment late Thursday.
Late last year it was revealed the OTS had approved in May a backdated infusion of $18 million for IndyMac Bancorp. The move enabled the thrift to maintain its "well capitalized" rating. It failed in July.
