An independent office of the US Department of the Treasury, the OCC was established by the National Currency Act of 1863 to:

With the passing of the Dodd-Frank Act and the dissolution the Office of Thrift Supervision (OTS), as of June 21, 2011, the OCC has supervisory and regulatory authority over federal thrifts. For more information on the Dodd-Frank Act, see Practice Note, Summary of the Dodd-Frank Act: Regulatory Structure.

For more information on how the OCC regulates national banks, see Practice Note, US Banking Law: Overview: National Banks.