Warren Statement on OCC’s Proceeding With Review of Bank Charter Application Submitted by Trump’s Crypto Company World Liberty Financial

Warren Statement on OCC's Proceeding With Review of Bank Charter Application Submitted by Trump's Crypto Company World Liberty Financial

"We have never seen financial conflicts of this magnitude and no crypto market structure legislation should pass Congress without guardrails to stop this kind of corruption."

OCC response (PDF)

Washington, D.C. - U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, issued the following statement:

"President Trump's unprecedented crypto corruption has metastasized to the banking system. Comptroller Jonathan Gould - who serves at the pleasure of President Trump - is refusing to delay the review of World Liberty Financial's bank charter application until Trump and his family divest from the company. The OCC's review is a sham. We have never seen financial conflicts of this magnitude and no crypto market structure legislation should pass Congress without guardrails to stop this kind of corruption."

Last July, Ranking Member Warren warned Comptroller Gould about this exact scenario and asked how the agency would prevent President Trump's financial interests from influencing regulatory decisions. Earlier this month, when news broke that Warren's concerns were no longer hypothetical, she sent a letter pressing the agency to delay its review of the bank charter.

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