Law Dictionary

Comptroller of the Currency

a federal office created by Congress in 1863 as a part of the national banking system. The Comptroller of the Currency is a bureau of the Treasury Department and charters, regulates and examines national banks. The Comptroller of the Currency came into being during the civil war. In part to finance the war debt, Congress authorized federally chartered banks that were to issue bank notes in other words, currency. Initially, the OCC provided the bank notes to these federally chartered banks, and each bank then printed its own name.

Source : U.S. Department of the Treasury

Language : English

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