[O060]

OCC

This position was originally created in 1863 and it oversees the chartering and supervision of all national banks, as well as foreign banks. Among its various duties, the office conducts bank audits and issues as well as interprets rules governing banking operations. The OCC, due to the effect of the Gramm-Leach Bliley Act, is beginning to have an influence on insurance regulation. Since banks, through holding companies, have increased their involvement in selling insurance, the OCC has increased its interest in the supervision and regulation of insurance activity. Headquarters: Washington, DC.