Office of the Comptroller of the Currency - Wikipedia Office of the Comptroller of the Currency Office of the Comptroller of the Currency Seal of the Office of the Comptroller of the Currency Logo of the Office of the Comptroller of the Currency Flag of the Comptroller of the Currency Agency overview Formed February 25, 1863 Headquarters Washington, D.C. Employees 3,973 ( as of December 2016 ) Agency executive Joseph Otting, Comptroller Parent agency Department of the Treasury Website www.OCC.gov The Office of the Comptroller of the Currency ( OCC ) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and thrift institutions and the federal branches and agencies of foreign banks in the United States. The Comptroller of the Currency is Joseph Otting. Contents 1 Duties and functions 2 Preemption of state banking regulation 3 OCC 2013 - 29 4 HelpWithMyBank.gov 5 List of Comptrollers of the Currency 6 See also 7 References 8 External links Duties and functions Headquartered in Washington, D.C., it has four district offices located in New York City, Chicago, Dallas and Denver. It has an additional 48 field offices throughout the United States, and a London office to supervise the international activities of national banks. It is an independent bureau of the United States Department of the Treasury and is headed by the Comptroller of the Currency, appointed to a five - year term by the President with the consent of the Senate. The OCC pursues a number of main objectives : to ensure the safety and soundness of the national banking system ; to foster competition by allowing banks to offer new products and services ; to improve the efficiency and effectiveness of OCC supervision especially to reduce the regulatory burden ; to ensure fair and equal access to financial services to all Americans ; to enforce anti-money laundering and anti-terrorism finance laws that apply to national banks and federally licensed branches and agencies of international banks ; and to investigate misconduct committed by institution - affiliated parties of national banks, including officers, directors, employees, agents and independent contractors ( including appraisers, attorneys and accountants ). The OCC participates in interagency activities in order to maintain the integrity of the federal banking system. By monitoring capital, asset quality, management, earnings, liquidity, sensitivity to market risk, information technology, 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. 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. The OCC regulates and supervises about 1,400 national banks, federal savings associations, and federal branches of foreign banks in the United States, accounting for more than two - thirds of the total assets of all U.S. commercial banks ( as of March 2017 ). Other regulatory agencies like the OCC include : the Federal Deposit Insurance Corporation ( of which the Comptroller serves as a director ), the Federal Reserve, the Consumer Financial Protection Bureau, and the National Credit Union Administration. The OCC routinely interacts and cooperates with other government agencies, including the Consumer Financial Protection Bureau, Financial Crimes Enforcement Network, the Office of Foreign Asset Control, the Federal Bureau of Investigation, the Department of Justice, and the Department of Homeland Security. The Comptroller serves as a director of the Neighborhood Reinvestment Corporation, and the Federal Deposit Insurance Corporation. Preemption of state banking regulation In 2003, the OCC proposed regulations to preempt virtually all state banking and financial services laws for national banks and their diverse range of non-bank, corporate operating subsidiaries. Despite opposition from the National Conference of State Legislatures, the OCC 's regulations went into effect. In Watters v. Wachovia Bank, N.A. 550 U.S. 1 ( 2007 ), the United States Supreme Court validated the preemption of state regulations by the OCC, ruling that the OCC, not the states, has the authority to subject national banks to `` general supervision '' and `` oversight '' :... State regulators can not interfere with the business of banking by subjecting national banks or their OCC - licensed operating subsidiaries to multiple audits and surveillance under rival oversight regimes. In Cuomo v. Clearing House Association, L.L.C. 557 U.S. 519 ( 2009 ), the Court clarified its decision in Watters, stating that federal banking regulations did not preempt the ability of states to enforce their own fair - lending laws, as `` ' general supervision and control ' and ' oversight ' are worlds apart from law enforcement, '' and therefore states retain law enforcement powers but have restricted `` visitorial '' powers over national banks. OCC 2013 - 29 In October 2014, the OCC released a bulletin, `` Risk Management Guidance '' mandating that banks assess and manage the risk of all their third - party relationships. The bulletin states that a bank 's use of third parties does not diminish its responsibility to ensure that all activities are in compliance with applicable laws. Previously, banks may have only monitored third - party relationships which posed the greatest risk to them. Under the new guidelines banks must monitor all third - party relationships by adopting risk management processes `` commensurate with the level of risk and complexity of its third - party relationships ''. The document stresses the importance of an effective risk - management process throughout the entire life - cycle of the relationship. This includes : due diligence in third party selection, written contracts, ongoing monitoring of third party performance and activity, contract termination ability, clear risk management roles, documenting and reporting, and independent reviews. Banks often engage tens - of - thousands of third parties and are unable to effectively manage the associated risk of all their relationships through traditional means. As a result, many banks have adopted external IT solutions to assist their needs. This has rapidly expanded the market for third - party management software solutions. HelpWithMyBank.gov In July 2007, the OCC launched HelpWithMyBank.gov to assist customers of national banks and provide answers to national banking questions. List of Comptrollers of the Currency Hugh McCulloch -- ( 1863 -- 1865 ) Freeman Clarke -- ( 1865 -- 1867 ) Hiland R. Hulburd -- ( 1867 -- 1872 ) John Jay Knox -- ( 1872 -- 1884 ) Henry W. Cannon -- ( 1884 -- 1886 ) William L. Trenholm -- ( 1886 -- 1889 ) Edward S. Lacey -- ( 1889 -- 1892 ) A. Barton Hepburn -- ( 1892 -- 1893 ) James H. Eckels -- ( 1893 -- 1897 ) Charles G. Dawes -- ( 1898 -- 1901 ) William Barret Ridgely -- ( 1901 -- 1908 ) Lawrence O. Murray -- ( 1908 -- 1913 ) John Skelton Williams -- ( 1914 -- 1921 ) D.R. Crissinger -- ( 1921 -- 1923 ) Henry M. Dawes -- ( 1923 -- 1924 ) Joseph W. McIntosh -- ( 1924 -- 1928 ) John W. Pole -- ( 1928 -- 1932 ) J.F.T. O'Connor -- ( 1933 -- 1938 ) Preston Delano -- ( 1938 -- 1953 ) Ray M. Gidney -- ( 1953 -- 1961 ) James J. Saxon -- ( 1961 -- 1966 ) William B. Camp -- ( 1966 -- 1973 ) James E. Smith -- ( 1973 -- 1976 ) John G. Heimann -- ( 1977 -- 1981 ) C.T. Conover -- ( 1981 -- 1985 ) Robert L. Clarke -- ( 1985 -- 1992 ) Eugene Ludwig -- ( 1993 -- 1998 ) John D. Hawke, Jr. -- ( 1998 -- 2004 ) John C. Dugan -- ( 2005 -- 2010 ) John G. Walsh ( acting ) -- ( 2010 -- 2012 ) Thomas J. Curry -- ( 2012 -- 2017 ) Keith A. Noreika ( acting ) -- ( 2017 ) Joseph Otting -- ( 2017 -- present ) See also Title 12 of the Code of Federal Regulations Bank regulation in the United States References Jump up ^ `` Office of the Comptroller of the Currency Annual Report : Fiscal Year 2016 ''. OCC.gov. Retrieved 2017 - 05 - 19. Jump up ^ `` Office of the Comptroller of the Currency Annual Report : Fiscal Year 2016 ''. Occ.gov. Retrieved 2017 - 05 - 19. Jump up ^ `` Proposed Rules : Federal REgister Vol 68 No. 150 '' ( PDF ). Edocket.access.gpo.gov. Retrieved 2013 - 11 - 11. Jump up ^ ( 1 ) Archived October 15, 2008, at the Wayback Machine. Jump up ^ Watters v. Wachovia Bank, N.A., 550 U.S. 1 ( Supreme Court of the United States 2007 ). Jump up ^ Cuomo v. Clearing House Association, L.L.C., 557 U.S. ___ ( Supreme Court of the United States 2009 ). ^ Jump up to : `` Third - Party Relationships : Risk Management Guidance ''. www.occ.gov. 30 October 2013. Retrieved 21 March 2018. Jump up ^ `` OCC standards require strict oversight of third - party relationships - Insights ''. www.bakertilly.com. Retrieved 21 March 2018. Jump up ^ `` Help and Frequently Asked Questions about National Banks from OCC 's ''. Helpwithmybank.gov. Retrieved 2013 - 11 - 11. External links Official website OCC in the Federal Register Bank regulation in the United States Federal authorities Consumer Financial Protection Bureau Farm Credit Administration Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council Federal Housing Finance Agency Federal Reserve Board of Governors Financial Stability Oversight Council National Credit Union Administration Office of the Comptroller of the Currency Major federal legislation Independent Treasury Act National Bank Act Federal Reserve Act McFadden Act 1933 Banking Act Glass -- Steagall Act Federal Credit Union Act Bank Holding Company Act Interest Rate Control Act of 1966 Truth in Lending Act Bank Secrecy Act Fair Credit Reporting Act Home Mortgage Disclosure Act Community Reinvestment Act Electronic Fund Transfer Act Financial Institutions Regulatory and Interest Rate Control Act of 1978 Monetary Control Act Depository Institutions Act Competitive Equality Banking Act of 1987 FIRREA FDICIA Truth in Savings Act Riegle - Neal IBBEA Gramm -- Leach -- Bliley Act Fair and Accurate Credit Transactions Act Emergency Economic Stabilization Act Credit CARD Act Dodd - Frank Federal Reserve Board regulations Extensions of Credit by Federal Reserve Banks ( Reg A ) Equal Credit Opportunity ( Reg B) Home Mortgage Disclosure ( Reg C ) Reserve Requirements for Depository Institutions ( Reg D ) Electronic Fund Transfer ( Reg E ) Limitations on Interbank Liabilities ( Reg F ) International Banking Operations ( Reg K ) Consumer Leasing ( Reg M ) Loans to Insiders ( Reg O ) Privacy of Consumer Financial Information ( Reg P ) Prohibition Against the Paying of Interest on Demand Deposits ( Reg Q ) Credit by Brokers and Dealers ( Reg T ) Credit by Banks and Persons Other Than Brokers or Dealers for the Purpose of Purchasing or Carrying Margin Stock ( Reg U ) Transactions Between Member Banks and Their Affiliates ( Reg W ) Borrowers of Securities Credit ( Reg X ) Truth in Lending ( Reg Z ) Unfair or Deceptive Acts or Practices ( Reg AA ) Community Reinvestment ( Reg BB ) Availability of Funds and Collection of Checks ( Reg CC ) Truth in Savings ( Reg DD ) Types of bank charter Credit union Federal savings association Federal savings bank National bank State bank State authorities California Colorado Florida Illinois Maryland Michigan New Jersey New York Ohio Oklahoma Oregon Pennsylvania Tennessee Virginia Terms Call report CAEL Rating CAMELS rating system Thrift Financial Report Other topics Banking in the United States Fair debt collection History of central banking in the United States Wildcat banking Portal Agencies under the United States Department of the Treasury Headquarters : Treasury Building Steven Mnuchin, Secretary of the Treasury Sigal Mandelker, Acting Deputy Secretary of the Treasury Deputy Secretary of the Treasury Alcohol and Tobacco Tax and Trade Bureau Community Development Financial Institutions Fund Treasury Inspector General for Tax Administration Office of the Comptroller of the Currency Office of Tax Policy Under Secretary of the Treasury for International Affairs Office of East Asia Office of South and Southeast Asia Nations Office of Europe & Eurasia Office of the Western Hemisphere Office of International Monetary Policy Office of Banking and Securities Office of International Debt Policy Office of Development Policy Office of Financing Operations Office of African Nations Office of the Middle East and North Africa Office of International Trade Office of International Investment Office of Trade Finance Office of Technical Assistance Office of Risk and Research Analysis Exchange Stabilization Fund Under Secretary of the Treasury for Domestic Finance Advanced Counterfeit Deterrence Federal Financing Bank Office of Debt Management Office of Financial Institutions Office of Financial Markets Office of Financial Stability Office of Fiscal Service Bureau of the Fiscal Service Under Secretary of the Treasury for Terrorism and Financial Intelligence Office of Terrorism and Financial Intelligence Office of Terrorist Financing and Financial Crimes Office of Intelligence and Analysis Office of Foreign Assets Control Financial Crimes Enforcement Network Treasury Executive Office for Asset Forfeiture Treasurer of the United States Bureau of Engraving and Printing United States Mint Retrieved from `` https://en.wikipedia.org/w/index.php?title=Office_of_the_Comptroller_of_the_Currency&oldid=842955158 '' Categories : Comptrollers in the United States United States Department of the Treasury agencies Financial regulatory authorities of the United States Organizations based in Washington, D.C. 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Question: where is the office of the comptroller of the currency located
Answer: Washington, D.C.