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What is the difference between a National bank and a bank chartered by a state?

What is the difference between a National bank and a bank chartered by a state?
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3 votes
What is the

difference between a
National bank and a
bank chartered by a
state?

User Big Sam
by
8.8k points

1 Answer

6 votes
A National bank is created by the federal government and is chartered by the Office of the Comptroller of the Currency (OCC). A bank chartered by a state is created by the state and is chartered by the state's banking authority.
User Eugene Mihaylin
by
8.2k points
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