Thrift Doctor Law and Legal Definition

The term thrift doctor refers to a person hired to help savings and loan associations or savings banks that are insolvent or near insolvency. Such a person may be an accountant, lawyer, banker, or former federal regulator.

A thrift doctor helps institutions deal with federal regulators, prepare operating plans, and find merger partners or new capital. They also help investors find institutions to buy, appraise their value and propose deals to Federal regulators.