Which agencies are responsible for U.S. bank regulation?

• A. The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Federal Reserve System, and the Consumer Financial Protection Bureau
• B. Securities and Exchange Commission and the Federal Reserve
• C. Internal Revenue Service and the Federal Reserve
• D. OCC and FDIC only

Answer: (A)

U.S. bank regulation is handled by several federal agencies, each with a specific role. The Office of the Comptroller of the Currency oversees national banks and federal savings associations, while the Federal Deposit Insurance Corporation protects depositors and supervises many state-chartered banks that aren’t members of the Federal Reserve System. The Federal Reserve System regulates bank holding companies and also oversees many banks, and the Consumer Financial Protection Bureau focuses on protecting consumers in financial services, including bank products and services. Together, these four agencies cover the main regulatory responsibilities for banks. The other options miss one or more of these key regulators or include agencies that don’t regulate banks in the same way.