Senator Warren Challenges OCC Review of Trump-Linked Crypto Bank Charter
Senator Elizabeth Warren has intensified scrutiny over the Office of the Comptroller of the Currency's review process for World Liberty Financial's bank charter application. The proposed national trust bank, designed for stablecoin services, is backed by former President Donald Trump—a connection Warren cites as a glaring conflict of interest.
In a January 13 letter to Comptroller Jonathan Gould, Warren demanded the OCC pause its evaluation until ethical concerns are resolved. She referenced unanswered questions from her July 2025 inquiry about safeguards against presidential influence on regulatory decisions. The OCC has until January 20 to respond.
The confrontation highlights growing tensions between progressive lawmakers and crypto-friendly regulators. Warren's intervention comes as stablecoins gain traction among institutional investors, with several issuers pursuing banking partnerships to legitimize dollar-pegged tokens.