US Community Banks Challenge OCC Over Crypto Firm Trust Charters
Banking Lawsuit: The ICBA sued the OCC on October 2, 2026, over national trust charters granted to crypto firms. The community bank group argues the OCC exceeded its authority by letting companies gain federal-bank-like status without meeting requirements like CRA obligations, consolidated supervision, capital and liquidity standards, and FDIC insurance. ICBA wants the court to invalidate the OCC’s Final Rule and Interpretive Letter 1176. The lawsuit follows approvals involving Ripple, Circle, Paxos, Fidelity Digital Assets, Revolut, World Liberty Financial, and Coinbase. ICBA President Rebeca Romero Rainey said Congress didn’t create trust charters as a crypto alternative. The OCC had not responded. Read more on CoinRab.
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