Warren Statement on World Liberty Financial Applying for a US Bank Charter

Warren Statement on World Liberty Financial Applying for a US Bank Charter

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 in response to World Liberty Financial, the crypto venture co-founded by President Donald Trump, filing an application for a US bank charter:

"President Trump's crypto company just applied for a federal banking charter. The application will be reviewed, and presumably approved, by a regulator that serves at the pleasure of the President. We have never seen financial conflicts or corruption of this magnitude - and the Senate must address this in its consideration of crypto market structure legislation in the coming days. Our banking regulators are supposed to ensure that businesses and households have fair access to credit and that our economy benefits from a stable banking system, not enrich their boss - the President of the United States."

Last July, Ranking Member Warren sent a letter to the Comptroller of the Currency requesting information about the steps he is taking to insulate the agency from President Trump's financial conflicts of interest-especially in light of the OCC's new responsibilities following the passage of the GENIUS Act.

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