The OCC charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks. The OCC is an independent bureau of the U.S. Department of the Treasury.
To ensure that national banks and federal savings associations operate in a safe and sound manner, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations.
The OCC is the preeminent prudential supervisor that
- adds value through proactive and risk-based supervision;
- is sought after as a source of knowledge and expertise; and
- promotes a vibrant and diverse banking system that benefits consumers, communities, businesses, and the U.S. economy.
The President, with the advice and consent of the U.S. Senate, appoints the Comptroller to head the agency for a five-year term. The Comptroller also is a director of the Federal Deposit Insurance Corporation and NeighborWorks® America.
Headquartered in Washington, D.C., the OCC has four district offices that oversee four geographic regions. The OCC's nationwide staff of bank examiners conducts on-site reviews of national banks and federal savings associations and provides sustained supervision of these institutions' operations. Examiners analyze loan and investment portfolios, funds management, capital, earnings, liquidity, sensitivity to market risk for all national banks and federal thrifts, and compliance with consumer banking laws for national banks and thrifts with less than $10 billion in assets. They review internal controls, internal and external audit, and compliance with law. They also evaluate management's ability to identify and control risk.
In regulating national banks and federal thrifts, the OCC has the power to:
- Examine the national banks and federal thrifts.
- Approve or deny applications for new charters, branches, capital, or other changes in corporate or banking structure.
- Take supervisory actions against national banks and federal thrifts that do not comply with laws and regulations or that otherwise engage in unsound practices. Remove officers and directors, negotiate agreements to change banking practices, and issue cease and desist orders as well as civil money penalties.
- Issue rules and regulations, legal interpretations, and corporate decisions governing investments, lending, and other practices.
For more information about the OCC, visit www.occ.gov. For technical assistance with BankNet, please call (800) 641-5925.