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Question: 1 / 400

Which office issues a charter to start a federal savings association?

Office of the Comptroller of the Currency.

Federal Deposit Insurance Corporation.

Office of Thrift Supervision.

The correct office that issues a charter to start a federal savings association is the Office of the Comptroller of the Currency (OCC). This federal agency is responsible for overseeing and regulating all national banks and federal savings associations. The OCC provides charters that grant permission to establish a new federal savings association, ensuring that it meets all necessary regulatory requirements and standards.

The role of the Federal Deposit Insurance Corporation (FDIC) is primarily to insure deposits at member banks, not to issue charters. The Office of Thrift Supervision used to be involved with federal thrift institutions but was merged into the OCC in 2011, meaning it no longer exists as a separate entity issuing charters. Similarly, while state banking departments are responsible for charters of state-chartered banks and savings institutions, they do not have jurisdiction over federal savings associations.

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State banking department.

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