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Since 1863, the OCC has supervised national banks to ensure a safe, sound and competitive banking system, according to Kevin Mukri, spokesperson for the department. The office follows one uniformed set of federal regulations in all 50 states, and it's up to the consumer to choose whether they want to deal with a national or state bank when they take out a mortgage loan.
"States can pass laws on behalf of their banks. We don't want any part in that," Mr. Mukri said. "But by the same token, we are the sole regulators of the national banking system. The difference allows you to have a choice. 'Which am I more comfortable with? What can they offer me?' ...
Source: HighBeam Research, OCC Defends Dual Banking System.(Office of the Comptroller of the...