Comptroller of the Currency
Agency URL: http://www.occ.treas.gov/
The Office of the Comptroller of the Currency was created February 25, 1863 (12 Stat. 665), as a bureau of the Department of the Treasury. Its primary mission is to regulate national banks. The Office is headed by the Comptroller, who is appointed for a 5-year term by the President with the advice and consent of the Senate.
The Office regulates national banks by its power to examine banks; approves or denies applications for new bank charters, branches, or mergers; takes enforcement action--such as bank closures--against banks that are not in compliance with laws and regulations; and issues rules, regulations, and interpretations on banking practices.
The Office supervises approximately 2,100 national banks, including their trust activities and overseas operations. Each bank is examined annually through a nationwide staff of approximately 1,900 bank examiners supervised in 4 district offices. The Office is independently funded through assessments of the assets of national banks.
This agency has published 1,017 articles since 1994.