Comptroller of the Currency


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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.

References in periodicals archive ?
Comptroller of the Currency Eugene Ludwig claimed not to know that there were DNC fundraisers at the barkers' coffee.
But Comptroller of the Currency Robert Clarke refused to release the essential information, claiming federal laws other than the FOIA, those governing disclosure of trade secrets and banking information, prohibited him from doing that.
Copies of the evaluations may also be obtained by submitting a request electronically through the OCC's Freedom of Information Act (FOIA) Web site https://foia-pal.occ.gov/palMain.aspx or by writing to the Office of the Comptroller of the Currency, Communications Division, Suite 3E-218, Washington, DC 20219.
The companies have also obtained regulatory approval for the merger from the Virginia Bureau of Financial Institutions, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency.
He most recently served as a Senior Advisor to the deputy comptroller in the Office of the Comptroller of the Currency Northeastern District in New York.
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency will update the list of distressed and underserved nonmetropolitan middle-income geographies annually, and will post updates on the FFIEC web site by April 1 of each year.
The Federal Reserve Board, the Federal Deposit Insurance Corp., the National Credit Union Administration and the Office of the Comptroller of the Currency issued final joint guidance to help insured depository institutions address concerns federal and state bank regulators, consumers, financial institutions and their trade representatives have raised about overdraft protection programs (www.federalreserve.
The Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and Federal Reserve Board have jointly announced a $39 million contract they awarded to Unisys Corp.
Wynn is trying to persuade the Comptroller of the Currency, Eugene Ludwig, to include the bill as part of the Community Reinvestment Act of 1977, which requires banks and thrifts to meet the credit needs of the communities they serve.
The Appraisal Institute's testimony followed credit crunch meetings held last week with the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Federal Reserve Board, the Office of Thrift Supervision, and banking officials.
Further, the bank mentioned that First National Bank's regulator, the Office of the Comptroller of the Currency did not approve the acquisition as per the terms and conditions of the agreement, a required condition of the transaction.
4 September 2013 -- Washington DC-based bank regulator The Office of the Comptroller of the Currency said it will host two workshops in Pittsburgh Pennsylvania at the Hyatt Regency Pittsburgh International Airport October 16-17 for directors of national community banks and federal savings associations.