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Office of the Comptroller of the Currency

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Definition Edit

The U.S. Office of the Comptroller of the Currency (OCC) is a bureau within the U.S. Department of the Treasury, which was established in 1863.

Overview Edit

The OCC charters, regulates, and supervises national banks, which can usually be identified because they have the word “national” or “national association” in their names. The OCC also supervises and regulates the federally licensed branches and agencies of foreign banks doing business in the United States. The Comptroller of the Currency, who is appointed by the president of the United States, with Senate confirmation, and who is one of the FDIC’s five directors, heads the OCC.

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