Comptroller of the Currency

Short for. the Office of the Comptroller of the Currency (OCC). This federal agency regulates, watches over, and charters national banks (not state banks) and also is in charge of foreign banks conducting business in the U.S. The OCC is headed by the Comptroller of the Currency who is appointed by the President.

Comptroller of the Currency

The head of the Office of the Comptroller of the Currency, which is an agency of the U.S. Government that regulates and supervises all banks (but not thrifts) in the United States. The Comptroller of the Currency is charged with enforcing banking regulation, prosecuting crimes committed by bank officials in the performance (or non-performance) of their duties, and helping to ensure equal access to banks by all American citizens. He or she is appointed by the President and confirmed by the Senate.

Comptroller of the Currency.

The Office of the Comptroller of the Currency, housed in the US Department of the Treasury, charters, regulates, and oversees national banks.

The comptroller ensures bank integrity, fosters economic growth, promotes competition among banks, and guarantees that people have access to adequate financial services.

The comptroller does this by enforcing the Community Reinvestment Act and federal fair lending laws, which mandate that access. The comptroller is appointed by the US president and confirmed by the Senate.

Mentioned in

References in periodicals archive

Prior to his role with Office of the Comptroller of the Currency in New York, Finn served in leadership positions with the Office of Thrift Supervision including as regional director of the Northeast Region in New Jersey, as a regional director in the West Region in California and in numerous senior roles in the OTS headquarters in Washington DC.

Finn to serve as risk chief at Hudson Valley Holding

10, 1999, Joint Interagency Letter to Financial Institutions signed by the SEC, the Federal Deposit Insurance Corporation, the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision.

SEC Issues Staff Accounting Bulletin No. 102

The four federal banking agencies--the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision--published on October 20, 2005, an interagency advance notice of proposed rulemaking (ANPR) regarding potential revisions to the existing risk-based capital framework.

Comment requested on suggested domestic risk-based capital modifications

The National Association of Independent Fee Appraisers (NAIFA) sued the Federal Deposit Insurance Corporation (FDlC), Office of the Comptroller of the Currency (OCC), and Office of Thrift Supervision (OTS) seeking to overturn new rules recently adopted by all three banks and thrift regulatory agencies that exempt millions of real estate transactions from congressionally mandated appraisal requirements.

NAIFA sues regulators to reverse appraisal rules

The order, the result of an action brought by the Office of the Comptroller of the Currency, prohibits Mr.

Enforcement actions

requests comments on a proposed rule it issued in conjunction with the Federal Reserve Board, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, the National Credit Union Administration, the Securities and Exchange Commission, the Federal Trade Commission and the Commodities Futures Trading Commission (www.sec.gov/rules/concept/34-48966.htm).

The Federal Deposit Insurance Corp. requests comments on a proposed rule it issued in conjunction with the Federal Reserve Board, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, the National Credit Union Administration, the Securities and Exchange Commission, the Federal Trade Commission and the Commodities Futures Trading Commission

The Office of the Comptroller of the Currency recently released guidance clarifying issues concerning its supervision of national banks' audit programs, including reviews of external audit programs, key independence issues affecting outsourced internal audit activities, and responsibilities of audit committees.

OCC Guidance on National Bank Audit Programs

The four federal banking agencies (the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision) agreed on April 29, 2005, that additional analysis is needed before publishing a notice of proposed rulemaking (NPR) with respect to the U.S.

Banking agencies to perform additional analysis before issuing notice of proposed rulemaking

The Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Office of Thrift Supervision released as final rules that take effect October 1 (www.fdic.

Bank regulators issue final rules on disciplining auditors

The interim final rules are being issued by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision.

Agencies issue FACT Act interim final rules on medical information