The Guardian: Several major U.S. banks consider suing the OCC to oppose issuing nationwide licenses to crypto and fintech companies

Crypto World News reports that the industry organization Bank Policy Institute (BPI), representing 40 major U.S. banks including JPMorgan Chase, Goldman Sachs, and Citibank, is considering suing the U.S. Office of the Comptroller of the Currency (OCC). BPI states 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 stability. The organization previously urged the OCC in October to reject license applications from Circle, Ripple, and payment company Wise. Additionally, World Liberty Financial, a crypto enterprise run 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 the OCC’s policy.