Major banks in the United States are planning to challenge new licensing rules implemented by the Office of the Comptroller of the Currency (OCC), which significantly simplify the process for obtaining national banking licenses for cryptocurrency and fintech companies. According to sources, the Bank Policy Institute (BPI), a lobbying organization representing over 40 leading banks, including JPMorgan, Goldman Sachs, and Citigroup, is exploring legal options for a lawsuit against the regulator.
This is reported by Business • Media
“Banks believe that the OCC is effectively allowing cryptocurrency and fintech companies to operate within the US financial system without the level of oversight and requirements imposed on traditional banks.”
Confrontation Between Banks and the Crypto Industry
The tension arises from the OCC’s decision to grant national trust bank licenses to crypto and fintech companies, which opens access to customers in all 50 states of America. Banks are concerned that the softer regulatory regime gives these companies competitive advantages and increases systemic risks for the financial system.
Particular concern has been raised regarding license applications from companies like Circle, Ripple, and the British platform Wise. As early as October 2025, the BPI urged the OCC to reject these applications, emphasizing that loosening controls could blur the lines between banks and non-bank entities and undermine trust in the entire banking system.
Political Context and Previous Legal Disputes
Adding further resonance to the situation is the application from World Liberty Financial, linked to the family of US President Donald Trump. In January 2026, the firm submitted documents for licensing, which immediately drew criticism from several American congress members.
It is worth noting that the current head of the OCC, Jonathan Gould, appointed by President Trump, has experience in the crypto industry and advocates for expanding fintech companies’ access to banking infrastructure.
Attempts by the BPI to influence banking industry regulation have occurred before. In 2024, the association filed a lawsuit against the Federal Reserve System, leading to a review of the rules governing bank stress testing.
Experts note that if a lawsuit against the OCC is filed, it would be a rare but not unique step in the practice of the US banking lobby.