CHARTER AGENCIES

I am working on updating our electronic compliance manual for our in-house staff. Under charter agencies, it is my understanding that the following pertain to financial institutions.



OTS- Federal Savings Bank and Thrift & Loan Companies



OCC- Federal Banks and NA (National Association)



NCUA- Federal Credit Unions





However, it was brought to my attention that I should include FDIC, because it is the agency that regulates state chartered banks. Although the FTC (Federal Trade Commission) is not considered an agency that charters financial institutions per se, I was told that it is the appropriate agency that regulates non-depository finance lenders, e.g., mortgage companies. Therefore, I should be including both agencies. Also can anyone provide a definition or point me to a source on the FDIC’s regulatory function? Thanks

http://www.fdic.gov

The Federal Reserve regulates state chartered banks that are Fed members. The FDIC regulates those that are not Fed members.

The Fed is here .

Each regional fed bank also has a site, such as NY Fed.

The Fed also regulates bank holding companies.

The FTC is here.

You refer to charter agencies.

Technically, the banking departments of each state charter and regulate their own state thrifts, banks (commercial, industrial or other) and credit unions, [the ones not federally or nationally chartered] and in conjunction with federal insurers (FDIC, OTS and CUNA) can pull their charters. You would have to link to each of the state websites.