What was the primary function of the Office of Thrift Supervision (OTS)?

The primary function of the Office of Thrift Supervision (OTS) was to oversee savings associations, which are financial institutions that focus primarily on accepting savings deposits and making home mortgage loans. Established to ensure the safety and soundness of the thrift industry, the OTS regulated these institutions, providing a framework for them to operate while protecting depositors and maintaining public confidence in the financial system. This involved monitoring their operations, conducting examinations, and enforcing compliance with various regulations.

The other options, while relevant to aspects of financial services, do not accurately represent the central role of the OTS. For instance, managing federal student loans pertains to a different area of financial oversight, and regulating mortgage lending involves broader activities that fall under different regulatory bodies. Similarly, while consumer education is an important part of financial literacy, it was not the primary focus of the OTS's mandate. Therefore, overseeing savings associations encapsulated the core mission of the OTS effectively.