The three primary banking regulators are the Board of Governors of the Federal Reserve System (FRB), the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC). Each regulator has unique responsibilities and powers. The FRB, for example, plays an important role in stabilizing the banking system during times of severe stress in the financial system; it also sets monetary policy and serves as the nation’s central bank. The FDIC insures bank deposits through the Deposit Insurance Fund (DIF) and takes the lead in resolving banks that fail, with the primary goal of safeguarding customer deposits. And the OCC’s oversight includes savings and loan associations. Collectively, the three regulators are responsible for chartering and overseeing the nation’s banks and thrifts to ensure that financial institutions remain financially sound, comply with the law, and provide the public with equal access to banking services.
★ = Actions considered to be most consequential