Which banks are chartered by the Office of the Comptroller of the Currency (OCC)?

• A. National Banks
• B. State member Banks
• C. State nonmember Banks
• D. Federal Credit Unions

Answer: (A)

The OCC’s role is to grant and oversee a federal charter for banks that operate nationwide. In the U.S., bank chartering is split: national banks receive their charter from the OCC, while state-chartered banks are chartered by their state banking authorities. Federal credit unions are chartered by the National Credit Union Administration, not the OCC. So the entity that the OCC charters is national banks.