Update: Downy Savings and Loan

"Nothing to see here folks," was the sentiment of Downey officials echoed in news accounts.

Although Downey touts this as addressing "concerns," the OTS does not act unless action is necessary, and regardless of pleadings of "substantial progress" this merely suggests Downey's inability to completely and immediately comply with their marching orders. The OTS has not been known to deal in "mere formalities."