OCC Proceeds With Trump-backed WLF Bank Charter Application

The Office of the Comptroller of the Currency has knocked back US Senator Elizabeth Warren’s bid to pause the review of World Liberty Financial’s application for a national trust bank charter, a move she sought until US President Donald Trump divests his stake in the crypto platform.  

The OCC’s Jonathan Gould confirmed on Friday that WLF’s application will be evaluated under existing regulatory standards while emphasizing that no political or personal financial ties will impact the procedural review of the bank charter.

“The OCC intends to act consistent with this duty rather than your demand,” he said in response to Warren’s Jan. 14 letter. “The OCC charter application process should be, and under my leadership will be, an apolitical and nonpartisan process.”

Gould added that WLF’s application would be subject to a “rigorous review,” like any application it receives.

Warren’s criticisms were based on the President and his sons Eric, Donald Trump Jr, and Barron being listed as World Liberty founders, and the platform bringing in billions of dollars in paper wealth for the family.