US banking lobby weighs lawsuit against OCC over crypto, fintech national trust charters: report

The Bank Policy Institute (BPI), whose board includes leaders from JPMorgan Chase, Goldman Sachs, and Bank of America, is contemplating a lawsuit against the Office of the Comptroller of the Currency (OCC). This potential legal challenge stems from the OCC's decision to grant national trust bank charters to several crypto and fintech companies. Banking groups argue this move provides federal approval without imposing the stringent capital and compliance requirements faced by traditional banks, effectively blurring the definition of a bank. Opposition has been voiced by the American Bankers Association (ABA) and state regulators, particularly concerning uninsured crypto firm charters. Despite this, the OCC has continued granting conditional approvals, including to Ripple, Circle, and BitGo in December 2025, and subsequently to Crypto.com. The situation is further complicated by scrutiny over a charter application from World Liberty Financial due to foreign investment concerns, while the OCC simultaneously moves to formalize stablecoin regulation under the GENIUS Act.

(Source：The Block)