"Most national banks must be members of the Federal Reserve System; however, they are regulated by the Office of the Comptroller of the Currency (OCC). The Federal Reserve supervises and regulates many large banking institutions because it is the federal regulator for bank holding companies (BHCs)."
As Nano Financial Holdings, Inc. is the bank holding company for Nano Banc, it is supervised and regulated by the Federal Reserve.
DepositAccounts.com shows the primary regulator for Nano Banc as FED. Most banks are regulated by the OCC. In your more detailed post to follow, could you explain the difference and if this is important for the investor. I also noticed the Weiss ratings for this bank have been C and D. Bauer gives them 3 stars.
Darlene,
According to Investopedia
https://www.investopedia.com/articles/economics/09/financial-regulatory-body.asp
"Most national banks must be members of the Federal Reserve System; however, they are regulated by the Office of the Comptroller of the Currency (OCC). The Federal Reserve supervises and regulates many large banking institutions because it is the federal regulator for bank holding companies (BHCs)."
As Nano Financial Holdings, Inc. is the bank holding company for Nano Banc, it is supervised and regulated by the Federal Reserve.
DepositAccounts.com shows the primary regulator for Nano Banc as FED. Most banks are regulated by the OCC. In your more detailed post to follow, could you explain the difference and if this is important for the investor. I also noticed the Weiss ratings for this bank have been C and D. Bauer gives them 3 stars.