What is the currency inspector office?

The

Currency Controller (OCC) is a federal agency of the United States whose responsibility is to regulate, chart, and oversee national banks. OCC is in Washington, D.C. The Office of Public Accounts in the US and One in London, which was in 1863, based in Washington, D.C. In 1863, the Office of Public Accounts, which was created in 1863 in the US and one in London and one in London, has in 1863. On the recommendation of Finance Minister Salmon P. Chase, these banking system administration has established a network of federally rented national banks that could issue standardized banking notes on the basis of the bonds held by these banks. The law also created the position of the currency controller.

The law was soon rewritten as the National Bank Act. The controller was entitled to create employees of banking investigators who supervise and evaluate the national banks. The component supervises this employee and is in charge of regulating, investing and lending these national banks. National Banks no longer issue a currency,But because they play a prevailing role in the US economy, OCC continues to regulate these institutions.

Some of the obligations of the Currency Authority include the examination of banking activities, internal and external reviews, supervision of banking operations, issuing rules and interpretation of laws, as applied to banks under its supervision. This office also ensures that national banks are in accordance with all laws and regulations. The administrator is appointed for the five -year term of office by the President of the United States and is also the director of the Federal Society for Deposits (FDIC) and the neighborhood of America.

The powers of the legally granted OCC include not only the Banks' research and regulation, but also to reject or approve any request for a new charter, capital, branch or other structural changes. The Office may take supervisory measures against facilities that do not meet regulations or laws or practice unhealthyBanking procedures. The removal of officers or directors, negotiations on changes in banking practices and issuing orders for stopping and remuneration, and fines in civil money are also explicitly awarded as the authority of the Currency inspector. OCC does not publish information about public tests. National Banks are obliged to submit a report on the status of reception quarterly FDIC, which publicly access them on the FDIC website.

6ervices for US citizens. These operations are financed by funds charged to national banks to pay for the required examinations and processing any corporate applications. Investment income provides additional incomes to this office.