Who are the regulatory agencies for the banking industry?
Yes. Definately. Banks are subject to regulation by 3 separate Federal agencies and/or state bank regulators:
- Federal Agencies, The Comptroller of the Currency charters
- The Federal Reserve Board
- The Federal Deposit Insurance Corporation (FDIC – which insures our funds up to $100,000).
Their are also State Regulators including a department of State Government – called the Banking Commission managed by the Superintendent of Banks that regulates banks that are state chartered instead of national charted.
Hope that helps.