THE WHITE HOUSE
Office of the Press Secretary
PRESIDENT CLINTON NAMES NICOLAS P. RETSINAS AS ACTING DIRECTOR OF OFFICE OF THRIFT SUPERVISION AT THE DEPARTMENT OF TREASURY
President Clinton today announced his intention to designate Nicolas P. Retsinas of Providence, Rhode Island, as Acting Director of the Treasury Department's Office of Thrift Supervision (OTS).
Mr. Retsinas is currently Assistant Secretary for Housing - Federal Housing Commissioner at the Department of Housing and Urban Development (HUD). He will continue in this capacity while acting as OTS Director on an interim basis. As Assistant Secretary of HUD, Mr. Retsinas administers the single and multi-family insurance funds, programs that provide financing for elderly and disabled housing initiatives. He manages the disposition of the HUD-owned inventory and notes, as well as the regulatory responsibilities related to manufactured housing, interstate land sales and the Real Estate Settlement Procedures Act. Mr. Retsinas also oversees the President's National Homeownership Strategy.
Prior to his appointment at HUD, Mr. Retsinas was Executive Director of the Rhode Island Housing and Mortgage Finance Corporation from 1987 to 1993. In 1991, he also served as Director of Policy for the Governor of Rhode Island. Mr. Retsinas was also an Adjunct Assistant Professor in Urban Studies at Brown University.
Mr. Retsinas was born in Providence, Rhode Island. He received his B.A. in Economics from New York University and received his Masters Degree in City Planning from Harvard University.
The Office of Thrift Supervision charters Federal thrift institutions and regulates approximately 1,400 federal and state chartered thrifts belonging to the Savings Association Insurance Fund. The mission of OTS is to regulate savings associations to maintain the safety, soundness, and viability of the thrift industry, and to support the industry's efforts to meet housing and other financial services needs.