https://legal.excellentwiki.com/us/banking-law/ Recent content in banking law on ExcellentWiki - Legal Encyclopedia Hugo en-US Mon, 06 Jul 2026 00:00:00 +0000 https://legal.excellentwiki.com/us/banking-law/us-banking-law/ Mon, 06 Jul 2026 00:00:00 +0000 https://legal.excellentwiki.com/us/banking-law/us-banking-law/ <h2 id="the-dual-banking-system">The Dual Banking System</h2> <p>The United States operates a unique dual banking system in which banks may be chartered at either the federal or the state level. National banks receive their charter from the Office of the Comptroller of the Currency (OCC), an independent bureau within the Department of the Treasury established by the National Currency Act of 1863. State banks are chartered by the banking department of the state in which they operate. This dual structure allows banks to choose their primary regulator: national banks are supervised by the OCC, while state-chartered banks are supervised by state banking authorities and, if they are members of the Federal Reserve System, also by the Federal Reserve Board.</p>