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The_Info_Web/20 - ORGANIZATIONS/GOVERNMENT/USA/Office of the Comptroller of the Currency.md

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tags
Organization
Government
USA
Financial Regulation

The Office of the Comptroller of the Currency (OCC) is a U.S. government agency responsible for regulating and supervising all national banks and federal savings associations.1

Involvement in BCCI Scandal

In February 1978, an OCC officer, Joseph E. Vaez, submitted a report on the Bank of Credit and Commerce International that characterized it as a bank dangerously out of control.1 The OCC claimed to have "lost" this memo, and only released it after a congressional subpoena.2

Footnotes

  1. Beaty, Jonathan and Gwynne, S. C. The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI. New York: Random House, 1993, p. 12. ↩︎

  2. Beaty, Jonathan and Gwynne, S. C. The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI. New York: Random House, 1993, p. 382. ↩︎