U.S. banking industry plans to sue OCC, protesting the easing of crypto company banking license issuance

MarsBitNews · 2026-03-09T11:23:43+00:00

The industry organization BPI, representing 40 major American banks including JPMorgan Chase and Goldman Sachs, is considering suing the U.S. Office of the Comptroller of the Currency (OCC) over its relaxed regulations for crypto companies obtaining nationwide bank trust charters, which could threaten financial stability. Institutions such as CSBS and ICBA have also expressed opposition to this.

MarsBitNews

2026-03-09 11:23:43

Abstract generation in progress

Mars Finance News, March 9 — According to The Guardian, the industry organization Bank Policy Institute (BPI), representing 40 major U.S. banks including JPMorgan Chase, Goldman Sachs, and Citibank, is considering suing the Office of the Comptroller of the Currency (OCC). BPI pointed out that OCC Director Jonathan Gould, appointed by Trump, is reinterpreting federal licensing rules to make it easier for crypto companies and fintech startups to obtain “national bank trust charters,” allowing them to operate across all 50 states. BPI believes this move enables these companies to enter the U.S. financial system without strict regulation and oversight, potentially jeopardizing consumer protection and financial system stability. The organization previously urged OCC in October to reject license applications from Circle, Ripple, and payment company Wise. Additionally, World Liberty Financial, a crypto enterprise operated by the Trump family, applied for such a license in January. Currently, the Conference of State Bank Supervisors (CSBS), representing regulators from all 50 states, and the Independent Community Bankers of America (ICBA), representing 5,000 small banks, have also strongly opposed OCC’s policy.

WLFI1,2%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.