Regulate Initials Charter For Free

State and Federal Charters The Office of the Comptroller of the Currency (OCC) charters national banks; the state banking departments charter state banks. In addition, the Office of Thrift Supervision (OTS) chartered federal savings banks and savings associations.

This means that state banks and national banks are chartered and supervised at different levels. National banks are chartered and regulated under federal laws and are supervised by a central agency. State banks are chartered and regulated under state laws and are supervised by a state agency.

Primary tabs. First, a charter can be defined broadly as the highest law of an entity. More specifically: In corporate law, the articles of incorporation. In public law, the instrument by which a municipality is incorporated (e.g., city charter).

Charter Provisions means either those sections which shall be added to an existing home rule charter or those sections which comprise a separate home rule charter for public education of a city without a previously existing home rule charter.

A charter allows a financial institution to perform certain financial services, including accepting deposits, making loans, and providing a range of fiduciary services to its customers. While some charters allow banks to do all of these things, others are limited in purpose to allow only a subset of financial services.

When comparing a chartered vs. commercial bank, the main difference is the charter. A chartered bank is required to have either a state or national charter; a commercial bank may be chartered, but it isn't required to be in order to operate.

What Are the Different Types of Financial Institutions? The most common types of financial institutions include banks, credit unions, insurance companies, and investment companies.