Warren, OCC Chief Clash Over Trump-Tied Crypto Bank Bid
Sen. Elizabeth Warren publicly denounced WLFI’s application for a national bank charter as the “most disgraceful” corruption scandal, escalating concerns about political influence in crypto banking approvals. The Office of the Comptroller of the Currency chief swiftly pushed back, saying the agency adhered to established review processes and defending the integrity of its oversight on Feb. 27, 2026.
The clash matters because bank charters set critical precedents for how crypto firms access traditional banking infrastructure. Lawmakers’ accusations of favoritism could slow approvals, invite additional oversight, and raise compliance costs for would‑be crypto banks — while the OCC’s defense aims to reassure markets that regulatory standards remain intact despite the political heat.