ICBA Opposes OCC Approval of Ripple’s National Trust Bank Charter Application

Washington, D.C. (Oct. 27, 2026) - The Independent Community Bankers of America (ICBA) today expressed opposition to the Office of the Comptroller of the Currency's reported final approval of Ripple's application for a national trust bank charter for its Ripple National Trust Bank subsidiary.

"The OCC's approval of Ripple's trust charter application based on the agency's flawed chartering rule for national trust banks will put U.S. consumers at risk," ICBA President and CEO Rebeca Romero Rainey said. "As ICBA has told the OCC, this charter undermines the stability of the financial system by allowing a non-traditional institution to offer deposit-like services without adequate regulatory oversight or deposit insurance. We will continue to challenge the OCC's chartering rule for national trust banks, which far exceeds the agency's statutory authority, to ensure any firm engaged in non-fiduciary activities and seeking the benefits of a federal bank charter is required to meet the same standards as community banks."

In a letter to the OCC objecting to Ripple's application, ICBA noted the tech company's stated goals of using stablecoins to "build the next evolution of global financial services and redefine the way money moves in the digital economy" are outside of the scope of the powers Congress envisioned when it created the national trust bank charter.

More broadly, ICBA has repeatedly said the OCC lacks statutory authority to expand non-fiduciary trust powers and that the sudden influx of national trust charter applications demonstrates nonbank entities are seeking the benefits of a U.S. bank charter without satisfying the full scope of U.S. bank regulations - threatening consumers and the financial system. It has repeatedly called for the OCC to withdraw the rule or reissue an amended proposal consistent with its own statutory authority.

ICBA looks forward to continued engagement with policymakers on these issues to ensure strong, clear, and consistent oversight of the financial services sector.

About ICBA

The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation's community banks through effective advocacy, education, and innovation.

As local and trusted sources of credit, America's community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers' financial goals and dreams. For more information, visit ICBA's website at icba.org.