office of the Comptroller of the currency
The Office of the Comptroller of the Currency (OCC) was established to regulate the National Banking System by an act of Congress on February 25, 1863. The Office has maintained its bureau status throughout its history
.
Hugh McCulloch – successful banker, first
Comptroller
of the Currency and twice
Secretary
of the Treasury. (Treasury Collection)
As the administrator of nationally chartered banks, the OCC oversees the execution of laws relating to national banks and promulgates rules and regulations governing the operations of approximately 2,150 national banks. The Comptroller also supervises a nation-wide staff of approximately 1,900 bank examiners. Charters, mergers, and establishment of branches of national banks require approval of the Comptroller of the Currency.
Last Updated: March 9, 2007
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