---
category: U.S. Government
location: Washington, D.C.
start: 1863
summary: 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]
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](/people/joseph-e-vaez/), submitted a report on the [BCCI](/organizations/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]

[^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.