12 U.S.C. § 1 — Office of the Comptroller of the Currency

This section creates an agency and describes its leader's independence. (a) Office of the Comptroller of the Currency established. The section places a bureau called the "Office of the Comptroller of the Currency" inside the Department of the Treasury. This bureau is charged with making sure the institutions and people it oversees are safe and sound, follow laws and regulations, give fair access to financial services, and treat customers fairly. (b) Comptroller of the Currency. Paragraph (1): the Office's chief officer is called the Comptroller of the Currency. The Comptroller performs their duties under the "general direction" of the Secretary of the Treasury. But the Secretary may not delay or block any rule or regulation the Comptroller issues. The Secretary also may not step into any matter or proceeding before the Comptroller, including enforcement actions, unless some other law specifically allows it. Paragraph (2): the Comptroller has the same authority over functions transferred under the Enhancing Financial Institution Safety and Soundness Act of 2010 that the Director of the Office of Thrift Supervision had right before that transfer, as defined in section 311 of that Act (12 U.S.C. 5411).