The U.S. Democratic Party has written to the Secretary of the Treasury requesting a suspension of WLFI review and a thorough investigation into the UAE "Spy Emir"

Over 40 Democratic members of the U.S. House of Representatives officially sent a letter to Treasury Secretary Janet Yellen on Thursday, demanding an in-depth investigation into World Liberty Financial (WLFI), operated by the Trump family. The Democrats emphasized the need to ensure that the operation of the U.S. financial regulatory system is not influenced by political pressure or geopolitical factors.

Democrats Call for Investigation into UAE “Spy Chief”’s Large Investment

The Democratic caucus wrote to Secretary Yellen requesting a thorough investigation into Sheikh Tahnoon bin Zayed Al Nahyan, a member of the UAE royal family, regarding his substantial investment in WLFI. According to CNBC, this royal family member, dubbed the “Spy Chief,” purchased shares worth $500 million in the company last year. Leading this effort, New York Congressman Gregory Meeks pointed out that this transaction with the UAE royal family not only involves U.S. finance but also touches on serious national security issues. Democrats are concerned that foreign government officials or politically connected investors could exploit banking approval processes to access sensitive U.S. financial data and infrastructure.

(UAE Royal Family’s Investment in Trump’s WLFI Sparks Controversy, Democrats Launch Investigation)

Congressman Meeks questions the impartiality of Secretary Yellen and calls for a suspension of WLFI’s application review

WLFI is actively seeking to obtain a National Bank Charter from the Office of the Comptroller of the Currency (OCC). This charter holds significant commercial value and legal standing, granting the holder regulatory oversight by an independent agency under the Department of the Treasury. However, because WLFI’s core members include Presidential Envoy Steve Witkoff and his family, along with members of the Trump family, concerns about regulatory integrity have been raised among Democrats. Congressman Meeks has demanded that the Treasury Department commit to suspending all pending applications for WLFI’s bank charter until investigations into conflicts of interest and foreign influence are completed, to preserve the fairness of the banking charter process.

Earlier this month, the House Financial Services Committee held a highly contentious hearing on this issue. During the hearing, Congressman Meeks publicly questioned Secretary Yellen’s independence and even described her relationship with the President in strong terms. When asked about WLFI’s application, Yellen emphasized that the OCC operates independently. Democrats, in their letter, questioned what level of review and approval authority the White House, the Treasury Department, and the Office of Management and Budget (OMB) have when the OCC makes decisions on bank or trust charters. The House aims to clarify the internal administrative boundaries to prevent regulatory agencies from becoming tools for specific family enterprises.

Democratic members stressed in their letter that the credibility of the U.S. banking regulatory framework depends entirely on transparency, independence, and resistance to undue influence. They believe voters need confidence that banks are governed by law, not political expediency. Recently, WLFI hosted a forum at Mar-a-Lago promoting Trump’s family-backed stablecoin and criticizing traditional banking as a “Ponzi scheme,” further fueling congressional concerns about conflicts of interest involving WLFI. The Treasury Department has not yet responded. Relevant members have demanded that the department submit a report by February 26, 2026, detailing existing safeguards and foreign interference prevention measures.

This article, “U.S. Democrats Send Letter to Treasury Secretary Requesting Suspension of WLFI Review and Investigation into UAE ‘Spy Chief’,” first appeared on LinkNews ABMedia.