Regulations on Financial Institutions in the USA

After the crash of the economy, it's easy to be misled into thinking that there is no sort of governance for financial institutions in America.
However, this is not the case.

There is a bureau, called the Federal Financial Institutions Examinations Council, which oversees and governs all financial institutions of all kinds in the U.S.
Some of the institutions that are governed by these laws may come as a surprise, as they are not commonly considered to be financial institutions.
However, they are all governed by the same body, the Federal Financial Institutions Examinations Council. Board of Governors of the Federal Reserve System One of the bodies governed by the Federal Financial Institutions Examinations Council is the Board of Governors of the Federal Reserve System.

This is essentially the governing body that sets monetary policy for the entire country.
It also governs the current rates of the Federal Reserve, and oversees regulations regarding the 12 district banks of the U.
S.A.
Technically, this body is an independently governing body.

However, it does in reality report to and is governed by the Federal Financial Institutions Examinations Council. The Federal Deposit Insurance Corporation The Federal Deposit Insurance Corporation is more frequently known as the FDIC. This body is responsible for the insuring of all of the country's banks.
The name "FDIC" recently became much more well-known than ever before during 2009, when a great deal of money was lost as many banks collapsed.
It is never a good idea to go with a bank that is not insured by the FDIC. It is also governed by the Federal Financial Institutions Examinations Council, or FFIEC.

National Credit Union Association The National Credit Union Association, or NCUA, is a parallel branch of insurance to FDIC. The NCUA, instead of insuring banks, insures the money that people put into credit unions.

As opposed to the FDIC, the NCUA can boast that they have never lost a single penny of insured money. The NCUA is also governed by the FFIEC, and must obey all of its regulations just as the FDIC and FRS must do.

The Office of the Comptroller of the Currency The Office of the Comptroller of the Currency is the branch of the government responsible for the supervision of all national banks in America.

It was established in 1863, and is also currently governed by the FFIEC, even though it is technically an independent bureau within the Treasury.