Top U.S. banks consider suing the U.S. Office of the Comptroller of the Currency, targeting its crypto-friendly licensing policies

DeepFlowTech · 2026-03-09T11:23:45+00:00

The lobbying groups of 40 major American banks, including JPMorgan Chase and Goldman Sachs, are evaluating whether to file a lawsuit against the Office of the Comptroller of the Currency (OCC). The controversy centers on the OCC relaxing rules for foreign companies to obtain national bank trust licenses, which could increase systemic financial risks. BPI has previously warned the OCC and demanded that applications from related companies be rejected.

DeepFlowTech

2026-03-09 11:23:45

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Deep Tide TechFlow News, March 9 — According to an exclusive report by The Guardian, the Banking Policy Institute (BPI), a lobbying group representing 40 major American banks including JPMorgan Chase, Goldman Sachs, and Citigroup, is currently evaluating whether to file a lawsuit against the Office of the Comptroller of the Currency (OCC).

The controversy centers on the OCC’s significant relaxation of federal licensing rules under the Trump administration, making it easier for crypto, payments, and fintech companies to obtain national bank trust charters, thereby qualifying to operate across all 50 states. BPI argues that this move allows these companies to enter the financial system without the same strict regulation as traditional banks, which could increase systemic risk, harm consumer protection, and blur the legal boundaries of “banking.”

BPI has previously warned the OCC multiple times and requested it to reject license applications from Circle, Ripple, and Wise, but these requests were not accepted. Notably, the crypto business under the Trump family, World Liberty Financial, also submitted a trust license application in January of this year.

BPI has not yet made a final decision, and the OCC has not commented.

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