Do the federal government control banks?

The federal government does not directly control banks, but it does regulate them through various agencies, such as the Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC). These agencies establish rules and guidelines to ensure the stability and integrity of the banking system, oversee compliance with banking laws, and protect consumers. Additionally, the government can influence monetary policy through the Federal Reserve, impacting how banks operate.