Readers of financial reports are certain to encounter references to the Office of the Comptroller of the Currency. While not every organization with such an imposing-sounding name has a correspondingly important function to perform, this allegation cannot be made about the OCC. This agency is responsible for chartering and supervising American banks and branches of foreign banks in the USA. It employs a team of examiners to inspect bank activities, including their internal procedures and policy decisions, but nothing much outside of
typical finance like payday loans. At present some 1,600 American banks and 50 branches of foreign banks fall within the OCC’s domain.