Catenaa, Sunday, November 30, 2025-Comptroller of the Currency Jonathan Gould defended the OCC’s approach to national trust charters for fintech and crypto firms, saying the policy could bring nonbank competitors under consistent regulation and address stagnation in US bank formation.
Gould noted that the OCC supervises 60 national trust banks, many of which are household names, and emphasized that chartering fintechs and digital asset companies would level the regulatory playing field.
He said applications are evaluated on statutory factors and the ability to meet supervisory standards, with approvals issued on a case-by-case basis.
Gould framed the expansion as part of a broader effort to focus bank supervision on material financial risks. He cited the Silicon Valley Bank failure as an example where supervision failed to address glaring risks.
His goal is to ensure that supervisory resources target the issues most likely to cause bank failures while maintaining the overall safety and soundness of the financial system.
On debanking, Gould said the OCC is reviewing practices at the nine largest national banks to distinguish between lawful business decisions and actions taken for political or non-financial reasons.
He also acknowledged potential risks from stablecoins, including deposit outflows, and said the agency is incorporating public feedback into its implementation of the GENIUS Act to maximize benefits while mitigating risks.
Gould reiterated that fintechs and crypto firms voluntarily seeking trust charters are taking steps to meet bank standards, and that their inclusion under OCC supervision could increase regulatory clarity and expand access to financial services nationwide.
