Office of the Comptroller of the Currency (OCC)

The OCC is an independent bureau within the Treasury Department. Its operating and capital budget is funded primarily by assessments, fees paid by the banks it supervises, and investment income — the fiscal year 2026 budget is $1.159 billion. The Comptroller is appointed by the President and confirmed by the Senate for a five-year term but does not report on supervisory decisions to the Treasury Secretary.

The OCC is largely self-funded through assessments and fees levied on the national banks and federal savings associations it supervises. For fiscal year 2026, its total operating and capital budget was $1.159 billion. Because it does not rely on congressional appropriations, the agency maintains a degree of financial independence from annual budget cycles.

The Comptroller is the administrator of the federal banking system and head of the OCC. The role includes sole authority to grant national bank charters, examine supervised institutions, issue banking rules and regulations, and impose corrective measures — including enforcement actions — on institutions that do not comply with laws or engage in unsafe practices. The Comptroller also serves as an ex officio member of the FDIC Board and a voting member of the Financial Stability Oversight Council.

The OCC charters, regulates, and supervises national banks and federal savings associations; the FDIC insures deposits at those same institutions and serves as receiver for failed entities. The two agencies share examination and enforcement responsibilities over the same banks through interagency agreements, but the OCC's gateway function — issuing the federal charter itself — is unique.

Jonathan V. Gould was sworn in as the 32nd Comptroller of the Currency on July 15, 2025. He was previously a partner at the law firm Jones Day. His appointment places a lawyer with private-practice experience in bank regulatory matters at the head of the agency that directly supervises $16.8 trillion in commercial banking assets.