Can someone please define grantor vs trustee on a trust account and/or direct me to the place i can find this information. Thank you in advance!

There are many places, investorwords.com or wikipedia are just two.

I'm assuming then that there are no regs that define it?

You can look at your state's trust statutes and Reg 9 if you are a national bank.

The grantor creates the trust and funds it./

The trustee manages the trust and holds title on its behalf.

Grantor and trustee may be same individual, particularly on a grantor (intervivos revocable) trust