Trump-backed World Liberty Financial secures preliminary US national trust bank charter
What's happening
The Office of the Comptroller of the Currency issued preliminary conditional approval for a national trust bank charter requested by World Liberty Financial (WLF). WLF is a crypto and DeFi company founded by Eric and Donald Trump Jr. and described in coverage as Trump-linked or Trump-backed; the approval was reported across FinTech Futures, PYMNTS, Finextra, Banking Dive and others. Coverage notes the approval came Friday, Aug. 14, and that senators introduced a bill the next day to make arrangements like this illegal retroactive to Jan. 20, 2025.
Why it's trending
Regulators quietly granted a conditional OCC charter to a Trump family-linked crypto firm at the same time lawmakers moved to block such approvals, making it a live policy and political flashpoint.
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Getting an OCC charter is usually a regulatory win, but World Liberty Financial's conditional approval could be the start of a policy backlash, not a business breakthrough for Eric and Donald Trump Jr..
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Original sources7
- Lawmakers counter World Liberty approval with anti-corruption bill
A Trump family-backed crypto firm received a conditional charter Friday. The following day, several senators introduced a bill that would make such arrangements illegal – retroactive to Jan. 20, 2025.
Banking DiveAug 18 - Trump’s World Liberty ties remain under microscope with latest regulatory approval
The decentralised finance (DeFi) firm World Liberty Financial has been granted regulatory approval to become a US bank, which also brings into question – again – Donald Trump’s connection to a company his sons founded. World Liberty Financial, the decentralised finance (DeFi) company founded by Eric and Donald Trump Jr., has received conditional approval to […]
Payment ExpertAug 18 - World Liberty nabs conditional OCC charter
The Trump family-backed crypto firm gained conditional approval from the Office of the Comptroller of the Currency to establish its national trust bank.
Banking DiveAug 17
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