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09/18/2015 - OCC



What We Do

The Office of the Comptroller of the Currency (OCC) charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks.  The OCC ensures national banks and federal savings associations operate in a safe and sound manner, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations.  The OCC is an independent bureau of the U.S. Department of the Treasury.

What We Offer

The OCC publishes the Financial Literacy Update, a bi-monthly newsletter that provides information about financial literacy events, resources, and initiatives including those that benefit school-age children, from government agencies and public and private organizations. The OCC also provides a Financial Literacy Web Resource Directory for national banks, federal savings associations, and others seeking information about financial literacy and educational organizations and opportunities. The directory covers asset building, credit management, elder financial exploitation, financial literacy for multilingual populations, small business and microenterprise technical assistance, recognizing and avoiding abusive lending practices, and youth programs.  The OCC’s consumer website, www.HelpWithMyBank.gov, provides answers to more than 250 questions about bank accounts, credit cards, gift cards, consumer loans mortgages and identity theft, and it allows customers to file complaints about their institutions.  Additionally, the OCC distributes a monthly email with news and information on financial topics of interest to bank customers (e.g., credit cards, checking accounts, mortgages, gift cards and identity theft). Learn how to sign up for the list.

What We Need

The OCC continuously looks for financial capability events, initiatives and resources to highlight in its Financial Literacy Update and on its Financial Literacy Web Resource Directory.

What’s New

The OCC recently joined other financial regulators in issuing “Guidance to Encourage Financial Institutions’ Youth Savings Programs and Address Frequently Asked Questions.” The interagency guidance answers common questions, including those related to Customer Identification Program requirements that may arise as financial institutions collaborate with schools and other community stakeholders to facilitate youth savings and financial education.

Such efforts support the Financial Literacy and Education Commission’s National Strategy for Financial Literacy to advance the financial capabilities among America’s youth and to increase their opportunities to save. The guidance provides principles that all federally insured depository institutions should consider and encourages them to develop and implement programs to expand the financial capabilities of youth and financial inclusion of more families.

The guidance clarifies the application of existing guidelines and addresses uncertainties regarding legal and regulatory issues related to financial institutions’ establishment of youth savings programs.

Contact Information

Karen Bellesi, Community Development Manager, Community Affairs, Turn on JavaScript!

Denise Murray, Community Development Specialist, Community Affairs, Turn on JavaScript!