Office of the Comptroller of the Currency

The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury responsible for chartering, regulating, and supervising national banks, federal savings associations, and federal branches and agencies of foreign banks operating in the United States. Established in 1863 under the National Currency Act, later revised as the National Bank Act, the OCC was created during the American Civil War to establish a uniform national banking system and a stable national currency. Headquartered in Washington, D.C., the agency is headed by the Comptroller of the Currency, who is appointed by the President of the United States with the advice and consent of the Senate.

The OCC's principal responsibilities include granting national bank charters, conducting examinations of supervised institutions, enforcing banking laws and regulations, and ensuring the safety, soundness, and fair operation of the federal banking system. It evaluates banks' capital adequacy, liquidity, corporate governance, risk management, cybersecurity, consumer compliance, anti-money laundering (AML) controls, and operational resilience. The agency also reviews mergers, acquisitions, new banking activities, and changes in ownership involving national banks and federal savings associations. Through continuous supervision and enforcement actions, the OCC seeks to maintain public confidence in federally chartered banking institutions while protecting depositors and supporting financial stability.

In addition to prudential supervision, the OCC develops regulatory guidance on emerging issues affecting the banking sector, including financial technology (fintech), digital assets, artificial intelligence, climate-related financial risks, operational resilience, third-party risk management, and cybersecurity. The agency publishes interpretive letters, supervisory bulletins, and policy statements that assist financial institutions in complying with federal banking laws and adapting to evolving market conditions. It also works to promote responsible innovation in banking while ensuring that technological developments remain consistent with safety, soundness, and consumer protection objectives.

The Office of the Comptroller of the Currency collaborates closely with domestic regulatory authorities including the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Consumer Financial Protection Bureau (CFPB), the Financial Stability Oversight Council (FSOC), the U.S. Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC). Internationally, the OCC participates in policy coordination through organizations such as the Basel Committee on Banking Supervision (BCBS), the Financial Stability Board (FSB), the Bank for International Settlements (BIS), and the International Monetary Fund (IMF). Through prudential regulation, supervisory oversight, and international cooperation, the OCC plays a central role in maintaining the safety, integrity, and resilience of the United States banking system.