BlockBeats News, March 9th, according to The Guardian, the Bank Policy Institute (BPI), representing 40 large U.S. banks including JPMorgan Chase, Goldman Sachs, and Citigroup, is considering suing the Office of the Comptroller of the Currency (OCC).
BPI pointed out that OCC head Jonathan Gould, appointed by Trump, is reinterpreting federal charter rules to make it easier for crypto companies and fintech startups to obtain a “national bank charter,” allowing them to operate in all 50 states in the U.S.
BPI believes that this move would allow these companies to enter the U.S. financial system without strict supervision and control, potentially endangering consumers and the stability of the financial system. The organization had previously urged the OCC in October to reject license applications from Circle, Ripple, and payment company Wise. In addition, the Trump family-operated crypto company World Liberty Financial applied for such a charter in January this year.
Currently, the Conference of State Bank Supervisors (CSBS), representing regulators from all 50 U.S. states, and the Independent Community Bankers of America (ICBA), representing 5,000 community banks, have also strongly opposed OCC’s policy.
