OCC investigation Policy/
 

Background Investigations

Comptroller’s Licensing Manual

Washington,

DC

April 2009Background Investigations

Table of Contents

Introduction.............................................................................................................1

Applicability .........................................................................................................1

Key Policies ..........................................................................................................1

Summary of Process ..............................................................................................1

Specific Requirements...........................................................................................2

Standard Background Checks ........................................................................2

Foreign Nationals’ Background Checks..........................................................3

Background Informatio

n Checks on Japane

se Nationals .................................3

Optional Background Checks

.....................................................

...............4

Fingerprint Cards/IRS

Tax Check Waiver........................................................4

Waivers .........................................................................................................4

Adverse Information ......................................................................................5

Change in Bank Control ................................................................................5

Charters and Federal Br

anches or Agencies....................................................5

Depository Institution Management

Interlocks Act (DIMIA)............................6

Convicted Persons .........................................................................................7

Procedures ..............................................................................................................8

Appendix A: Management

Review Guid

elines .......................................................10

Appendix B: Join

t Statement ..................................................................................12

References....................................

...................................................................15

ii

Introduction

This booklet should be

used together with other booklets of the

Comptroller’s

Licensing Manual.

Users of this booklet also s

hould refer to the “General

Policies and Procedures” (

GPP

) booklet for discu

ssion of general filing

instructions and proced

ures. Background investigations are performed

routinely on filings discu

ssed in the following book

lets: “Change in Bank

Control,” “Changes in Directors and

Senior Executive Officers,” “Charters,”

“Conversions,” “Director Waivers,” “Fa

ilure Acquisitions,” and “Federal

Branches and Agencies.”

Applicability

This booklet incorporates

policies and procedures used

by the Comptroller of

the Currency (OCC) to

review the background of

persons and certain

companies (filers) interest

ed in entering the na

tional banking system,

acquiring control of a natio

nal bank, and/or influencin

g its operations. This

booklet details the standard mandatory

checks required for U.S. citizens and

foreign nationals; discusses additional

standard mandatory checks for foreign

nationals; and describe

s other optional backgro

und checks for certain

applications, notices, and notices requi

red by Section 914 of the Financial

Institutions Reform,

Recovery and Enforcement Act

of 1989 (FIRREA) or 12

CFR 5.51.

Key Policies

For certain corporate filings, the OCC pe

rforms background investigations on

persons proposed as organi

zers, senior executive officers, directors, and

principal shareholders of national banks,

or as managers of federal branches

or agencies. Those investigations ar

e conducted to de

termine if those

proposed have the experi

ence, competence, integr

ity, character, financial

ability, and willingness to direct and/or l

ead a bank’s affairs in a safe, sound,

and legal manner. The OCC will scru

tinize closely a filer whose previous

experience is tied to a failed or problem

financial institution or other situation

that may raise questions about pers

onal or fiduciary integrity.

Summary of Process

Whenever a filer seeks entry in

to the national banking sy

stem as an organizer,

senior executive officer, director, or principal shareholder (for example,

proposing to acquire 10

percent or more of the

stock) of a proposed new

national bank, or as a manager of

a federal branch or agency, the OCC

generally requires that person to submit an

Interagency Biographical and

Financial Report

with the appropriate filing. Th

e OCC also generally requires

submitting those reports with the follow

ing types of filings:

changes in bank

1