The United States Senate confirmed Comptroller of the Currency John D Hawke, Jr in October for a five-year term. The Office of the Comptroller of the Currency (OCC) within the US treasury charters and regulates national banks, a total of approximately 2,400 institutions, including most large banks in the US as well as 59 federal branches and agencies of foreign banks in the US. But the OCC appears to be losing regulatory turf under the new modernization bill which grants authority to the Federal Reserve to regulate new financial holding companies.
December 01, 1999