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{{short description|American federal government organization}}
{{Organization
{{Use mdy dates|date=April 2019}}
|OrganizationName=Office of Comptroller of the Currency
{{Redirect|Office of the Comptroller|state-level organizations|State Comptroller (disambiguation){{!}}State Comptroller}}
|OrganizationType=Independent Agencies
|Mission=The OCC charters, regulates, and supervises all national banks and federal savings associations to ensure they operate in a safe and sound manner, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations. It aims to maintain stability and public confidence in the U.S. financial system.
|ParentOrganization=Department of the Treasury
|TopOrganization=Department of the Treasury
|CreationLegislation=National Currency Act of 1863
|Employees=4000
|Budget=$1.2 billion (fiscal year 2024)
|OrganizationExecutive=Comptroller of the Currency
|Services=Bank Chartering; Regulation; Supervision; Enforcement; Consumer Protection
|Regulations=Bank Secrecy Act; Community Reinvestment Act; Dodd-Frank Wall Street Reform and Consumer Protection Act
|HeadquartersLocation=38.88421, -77.02151
|HeadquartersAddress=400 7th Street SW, Washington, DC 20219
|Website=https://www.occ.gov
}}
{{Merge|Office of the Comptroller of the Currency|date=April 2025}}{{short description|American federal government organization}}
 
{{Infobox government agency
{{Infobox government agency
| agency_name    = Office of the Comptroller of the Currency
| agency_name    = Office of the Comptroller of the Currency
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* to investigate misconduct committed by institution-affiliated parties of national banks, including officers, directors, employees, agents and [[independent contractor]]s (including appraisers, attorneys and accountants).
* to investigate misconduct committed by institution-affiliated parties of national banks, including officers, directors, employees, agents and [[independent contractor]]s (including appraisers, attorneys and accountants).


The OCC participates in interagency activities in order to maintain the integrity of the federal banking system.{{citation needed|date=September 2024}} By monitoring [[Capital (economics)|capital]], [[asset quality]], [[management]], earnings, [[liquidity]], sensitivity to [[market risk]], [[information technology]], [[Regulatory compliance|consumer compliance]], and [[community reinvestment]], the OCC is able to determine whether or not the bank is operating safely and soundly, providing fair access and treatment to customers, and complying with all applicable laws and regulations.{{citation needed|date=September 2024}} The OCC was created by [[Abraham Lincoln]] to fund the [[American Civil War]] but was later transformed into a regulatory agency to instill confidence in the federal banking system, ensure it operates in a safe and sound manner, and treats customers fairly.{{citation needed|date=September 2024}}
The OCC participates in interagency activities in order to maintain the integrity of the federal banking system.{{citation needed|date=September 2024}} By monitoring [[Capital (economics)|capital]], [[asset quality]], [[management]], earnings, [[liquidity]], sensitivity to [[market risk]], [[information technology]], [[Regulatory compliance|consumer compliance]], and [[community reinvestment]], the OCC is able to determine whether or not the bank is operating safely and soundly, providing fair access and treatment to customers, and complying with all applicable laws and regulations.{{citation needed|date=September 2024}} The OCC was created by Abraham Lincoln to fund the American Civil War but was later transformed into a regulatory agency to instill confidence in the federal banking system, ensure it operates in a safe and sound manner, and treats customers fairly.{{citation needed|date=September 2024}}


The OCC regulates and supervises about 1,200 national banks, federally-licensed savings associations, and federally-licensed branches of foreign banks in the United States,<ref>{{cite web|url=https://occ.gov/about/index-about.html |title=Office of the Comptroller of the Currency About Us |date=January 24, 2019 |publisher=OCC.gov |access-date=July 9, 2020}}</ref> accounting for more than two-thirds of the total assets of all U.S. commercial banks (as of September 30, 2020).{{citation needed|date=September 2024}}
The OCC regulates and supervises about 1,200 national banks, federally-licensed savings associations, and federally-licensed branches of foreign banks in the United States,<ref>{{cite web|url=https://occ.gov/about/index-about.html |title=Office of the Comptroller of the Currency About Us |date=January 24, 2019 |publisher=OCC.gov |access-date=July 9, 2020}}</ref> accounting for more than two-thirds of the total assets of all U.S. commercial banks (as of September 30, 2020).{{citation needed|date=September 2024}}
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== History ==
== History ==
During the [[American Civil War]], leaders of the U.S. federal government, including President [[Abraham Lincoln]] and Treasury Secretary [[Salmon P. Chase]], drafted plans for a national banking system.<ref name=":1">{{Cite book |url=https://www.govinfo.gov/content/pkg/GOVPUB-T12-PURL-gpo105792/pdf/GOVPUB-T12-PURL-gpo105792.pdf |title=Office of the Comptroller of the Currency: A Short History |publisher=US Department of the Treasury |year=2011}}</ref> These plans were put into action by the National Currency Act of 1863, subsequently amended by the [[National Bank Act]], which created the Office of the Comptroller of the Currency to administer the new system.<ref name=":0">{{Cite web|title=Founding of the OCC & the National Banking System|url=https://www.occ.treas.gov/about/who-we-are/history/founding-occ-national-bank-system/index-founding-occ-national-banking-system.html|date=2019-01-14|website=www.occ.treas.gov|language=en-US|access-date=2020-05-19}}</ref> [[Hugh McCulloch]], former president of the state-owned Bank of Indiana, was chosen to be the first comptroller of the currency.
During the American Civil War, leaders of the U.S. federal government, including President Abraham Lincoln and Treasury Secretary [[Salmon P. Chase]], drafted plans for a national banking system.<ref name=":1">{{Cite book |url=https://www.govinfo.gov/content/pkg/GOVPUB-T12-PURL-gpo105792/pdf/GOVPUB-T12-PURL-gpo105792.pdf |title=Office of the Comptroller of the Currency: A Short History |publisher=US Department of the Treasury |year=2011}}</ref> These plans were put into action by the National Currency Act of 1863, subsequently amended by the [[National Bank Act]], which created the Office of the Comptroller of the Currency to administer the new system.<ref name=":0">{{Cite web|title=Founding of the OCC & the National Banking System|url=https://www.occ.treas.gov/about/who-we-are/history/founding-occ-national-bank-system/index-founding-occ-national-banking-system.html|date=2019-01-14|website=www.occ.treas.gov|language=en-US|access-date=2020-05-19}}</ref> [[Hugh McCulloch]], former president of the state-owned Bank of Indiana, was chosen to be the first comptroller of the currency.


Under the law, banks could apply to the OCC for a charter issued by the federal government. Approved banks would purchase U.S. [[government bonds]], generating cash flow for the government. The bonds would then be deposited with the U.S. Treasury to provide security to back the paper money to be issued by the banks, a new uniform [[United States currency]] that could be redeemed for gold or silver at banks around the country.<ref name=":1" /> By ensuring the new currency was backed by the government-held bonds, the system gave users greater confidence in the stability of the paper money.<ref name=":0" />
Under the law, banks could apply to the OCC for a charter issued by the federal government. Approved banks would purchase U.S. [[government bonds]], generating cash flow for the government. The bonds would then be deposited with the U.S. Treasury to provide security to back the paper money to be issued by the banks, a new uniform [[United States currency]] that could be redeemed for gold or silver at banks around the country.<ref name=":1" /> By ensuring the new currency was backed by the government-held bonds, the system gave users greater confidence in the stability of the paper money.<ref name=":0" />
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{| class=wikitable style="text-align:center"
{| class=wikitable style="text-align:center"
|-
|-
!Portrait
!Administrator
!Administrator
!Took office
!Took office
!Left office<ref>{{cite web|title=Previous Comptrollers of the Currency|url=https://www.occ.gov/about/who-we-are/history/previous-comptrollers/index-previous-comptrollers.html|website=www.occ.gov|date=January 24, 2019 }}</ref>
!Left office<ref>{{cite web|title=Previous Comptrollers of the Currency|url=https://www.occ.gov/about/who-we-are/history/previous-comptrollers/index-previous-comptrollers.html|website=www.occ.gov|date=January 24, 2019 }}</ref>
|-
|-
|[[File:Hugh McCulloch.png|100px]]
|[[Hugh McCulloch]]
|[[Hugh McCulloch]]
|February 25, 1863
|February 25, 1863
|March 9, 1865
|March 9, 1865
|-
|-
|[[File:Clarke freeman.jpg|100px]]
|[[Freeman Clarke]]
|[[Freeman Clarke]]
|March 9, 1865
|March 9, 1865
|July 24, 1866
|July 24, 1866
|-
|-
|[[File:Hulburd hiland.jpg|100px]]
|[[Hiland R. Hulburd]]
|[[Hiland R. Hulburd]]
|February 1, 1867
|February 1, 1867
|April 3, 1872
|April 3, 1872
|-
|-
|[[File:John Jay Knox - Brady-Handy.jpg|100px]]
|[[John Jay Knox Jr.]]
|[[John Jay Knox Jr.]]
|April 25, 1872
|April 25, 1872
|April 30, 1884
|April 30, 1884
|-
|-
|[[File:Cannon henry.jpg|100px]]
|[[Henry W. Cannon]]
|[[Henry W. Cannon]]
|May 12, 1884
|May 12, 1884
|March 1, 1886
|March 1, 1886
|-
|-
|[[File:Trenholm william.jpg|100px]]
|[[William L. Trenholm]]
|[[William L. Trenholm]]
|April 20, 1886
|April 20, 1886
|April 30, 1889
|April 30, 1889
|-
|-
|[[File:Lacey edward.jpg|100px]]
|[[Edward S. Lacey]]
|[[Edward S. Lacey]]
|May 1, 1889
|May 1, 1889
|June 30, 1892
|June 30, 1892
|-
|-
|[[File:Hepburn barton.jpg|100px]]
|[[A. Barton Hepburn]]
|[[A. Barton Hepburn]]
|August 2, 1892
|August 2, 1892
|April 25, 1893
|April 25, 1893
|-
|-
|[[File:Eckels james.jpg|100px]]
|[[James H. Eckels]]
|[[James H. Eckels]]
|April 26, 1893
|April 26, 1893
|December 31, 1897
|December 31, 1897
|-
|-
|[[File:Chas G Dawes-H&E.jpg|100px]]
|[[Charles G. Dawes]]
|[[Charles G. Dawes]]
|January 1, 1898
|January 1, 1898
|September 30, 1901
|September 30, 1901
|-
|-
|[[File:Ridgley, Hon. W.B. LOC hec.14767.jpg|100px]]
|[[William Barret Ridgely]]
|[[William Barret Ridgely]]
|October 1, 1901
|October 1, 1901
|March 28, 1908
|March 28, 1908
|-
|-
|[[File:Murray lawrence.jpg|100px]]
|[[Lawrence O. Murray]]
|[[Lawrence O. Murray]]
|April 27, 1908
|April 27, 1908
|April 27, 1913
|April 27, 1913
|-
|-
|[[File:Portrait of John Skelton Williams.jpg|100px]]
|[[John Skelton Williams]]
|[[John Skelton Williams]]
|February 2, 1914
|February 2, 1914
|March 2, 1921
|March 2, 1921
|-
|-
|[[File:Daniel R. Crissinger cropped.jpg|100px]]
|[[Daniel Richard Crissinger]]
|[[Daniel Richard Crissinger]]
|March 17, 1921
|March 17, 1921
|March 30, 1923
|March 30, 1923
|-
|-
|[[File:Henry M Dawes.jpg|100px]]
|[[Henry M. Dawes]]
|[[Henry M. Dawes]]
|May 1, 1923
|May 1, 1923
|December 17, 1924
|December 17, 1924
|-
|-
|[[File:Mcintosh joseph.jpg|100px]]
|[[Joseph W. McIntosh]]
|[[Joseph W. McIntosh]]
|December 20, 1924
|December 20, 1924
|November 20, 1928
|November 20, 1928
|-
|-
|[[File:Pole john.jpg|100px]]
|[[John W. Pole]]
|[[John W. Pole]]
|November 21, 1928
|November 21, 1928
|September 20, 1932
|September 20, 1932
|-
|-
|[[File:James Francis Thaddeus O'Connor 1930s.jpg|100px]]
|[[James Francis Thaddeus O'Connor]]
|[[James Francis Thaddeus O'Connor]]
|May 11, 1933
|May 11, 1933
|April 16, 1938
|April 16, 1938
|-
|-
|[[File:Delano preston.jpg|100px]]
|[[Preston Delano]]
|[[Preston Delano]]
|October 24, 1938
|October 24, 1938
|February 15, 1953
|February 15, 1953
|-
|-
|[[File:Gidney ray.jpg|100px]]
|[[Ray M. Gidney]]
|[[Ray M. Gidney]]
|April 16, 1953
|April 16, 1953
|November 15, 1961
|November 15, 1961
|-
|-
|[[File:Saxon james.jpg|100px]]
|[[James J. Saxon]]
|[[James J. Saxon]]
|November 16, 1961
|November 16, 1961
|November 15, 1966
|November 15, 1966
|-
|-
|[[File:Camp william.jpg|100px]]
|[[William B. Camp]]
|[[William B. Camp]]
|November 16, 1966
|November 16, 1966
|March 23, 1973
|March 23, 1973
|-
|-
|[[File:Smith james.jpg|100px]]
|[[James E. Smith (politician, born 1930)|James E. Smith]]
|[[James E. Smith (politician, born 1930)|James E. Smith]]
|July 5, 1973
|July 5, 1973
|July 31, 1976
|July 31, 1976
|-
|-
|[[File:Heimann john.jpg|100px]]
|[[John G. Heimann]]
|[[John G. Heimann]]
|July 21, 1977
|July 21, 1977
|May 15, 1981
|May 15, 1981
|-
|-
|[[File:No image.svg|100px]]
|[[Charles Lord]] (acting)
|[[Charles Lord]] (acting)
|May 16, 1981
|May 16, 1981
|December 16, 1981
|December 16, 1981
|-
|-
|[[File:Conover todd.jpg|100px]]
|[[C. T. Conover]]
|[[C. T. Conover]]
|December 16, 1981
|December 16, 1981
|May 4, 1985
|May 4, 1985
|-
|-
|[[File:Clarke robert.jpg|100px]]
|[[Robert L. Clarke]]
|[[Robert L. Clarke]]
|December 2, 1985
|December 2, 1985
|February 29, 1992
|February 29, 1992
|-
|-
|[[File:No image.svg|100px]]
|[[Stephen Steinbrink]] (acting)
|[[Stephen Steinbrink]] (acting)
|March 1, 1992
|March 1, 1992
|April 5, 1993
|April 5, 1993
|-
|-
|[[File:Ludwig eugene.jpg|100px]]
|[[Eugene Ludwig]]
|[[Eugene Ludwig]]
|April 5, 1993
|April 5, 1993
|April 3, 1998
|April 3, 1998
|-
|-
|[[File:No image.svg|100px]]
|[[Julie L. Williams]] (acting)
|[[Julie L. Williams]] (acting)
|April 4, 1998
|April 4, 1998
|December 8, 1998
|December 8, 1998
|-
|-
|[[File:John d hawke.jpg|100px]]
|[[John D. Hawke Jr.]]
|[[John D. Hawke Jr.]]
|December 8, 1998
|December 8, 1998
|October 13, 2004
|October 13, 2004
|-
|-
|[[File:No image.svg|100px]]
|[[Julie L. Williams]] (acting)
|[[Julie L. Williams]] (acting)
|October 14, 2004
|October 14, 2004
|August 4, 2005
|August 4, 2005
|-
|-
|[[File:Dugan john sm.jpg|100px]]
|[[John C. Dugan]]
|[[John C. Dugan]]
|August 4, 2005
|August 4, 2005
|August 14, 2010
|August 14, 2010
|-
|-
|[[File:John Walsh OCC.jpg|100px]]
|[[John G. Walsh]] (acting)
|[[John G. Walsh]] (acting)
|August 15, 2010
|August 15, 2010
|April 9, 2012
|April 9, 2012
|-
|-
|[[File:Thomas Curry official photo.jpg|100px]]
|[[Thomas J. Curry]]
|[[Thomas J. Curry]]
|April 9, 2012
|April 9, 2012
|May 5, 2017
|May 5, 2017
|-
|-
|[[File:No image.svg|100px]]
|[[Keith Noreika]] (acting)
|[[Keith Noreika]] (acting)
|May 5, 2017
|May 5, 2017
|November 27, 2017
|November 27, 2017
|-
|-
|[[File:Joseph Otting official photo.jpg|100px]]
|[[Joseph Otting]]
|[[Joseph Otting]]
|November 27, 2017
|November 27, 2017
|May 29, 2020
|May 29, 2020
|-
|-
|[[File:Acting Comptroller of the Currency Brian P. Brooks.jpg|100px]]
|[[Brian P. Brooks]] (acting)
|[[Brian P. Brooks]] (acting)
|May 29, 2020
|May 29, 2020
|January 14, 2021
|January 14, 2021
|-
|-
|[[File:No image.svg|100px]]
|[[Blake Paulson]] (acting)
|[[Blake Paulson]] (acting)
|January 14, 2021
|January 14, 2021
|May 10, 2021
|May 10, 2021
|-
|-
|[[File:Michael Hsu.jpg|100px]]
|[[Michael J. Hsu]] (acting)
|[[Michael J. Hsu]] (acting)
|May 10, 2021
|May 10, 2021
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*{{Official website|https://www.occ.gov/}}
*{{Official website|https://www.occ.gov/}}
* [https://www.federalregister.gov/agencies/comptroller-of-the-currency OCC] in the [[Federal Register]]
* [https://www.federalregister.gov/agencies/comptroller-of-the-currency OCC] in the [[Federal Register]]
* [https://www.law.cornell.edu/cfr/text/12/chapter-I 12 CFR Chapter I] of the [[Code of Federal Regulations]] from the [[Legal Information Institute|LII]]
* [https://www.law.cornell.edu/cfr/text/12/chapter-I 12 CFR Chapter I] of the [[Code of Federal Regulations]] from the Legal Information Institute
* [https://www.ecfr.gov/current/title-12/chapter-I 12 CFR Chapter I] of the Code of Federal Regulations from the [[Office of the Federal Register|OFR]]
* [https://www.ecfr.gov/current/title-12/chapter-I 12 CFR Chapter I] of the Code of Federal Regulations from the [[Office of the Federal Register|OFR]]


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