Comptroller of the Currency Accountability Act

The Comptroller of the Currency Accountability Act (H.R. 5098) would change how the Office of the Comptroller of the Currency (OCC)—the federal agency that regulates and supervises national banks—is funded. Under this bill, the OCC would be prohibited from spending money on administrative costs unless those funds are specifically approved in advance by Congress through an annual appropriation act.

For everyday citizens, this change is designed to increase transparency and congressional oversight regarding how the agency manages its operations. Currently, the OCC is primarily funded by assessments paid by the banks it regulates rather than by taxpayer dollars; this bill would bring the agency's administrative budget under the direct control of the federal government's standard budgeting process.