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Bank Policy Institute Considers Lawsuit Against OCC Over Crypto and Fintech Charters

Bank Policy Institute Considers Lawsuit Against OCC Over Crypto and Fintech Charters

The Bank Policy Institute is evaluating legal action against the OCC’s approval of national trust bank charters for crypto firms, reflecting ongoing industry concerns about oversight and financial system stability.

Fact Check
The claim is corroborated by reports from The Block and The Guardian (via media_trace) dated March 9, 2026. These reports state that the Bank Policy Institute (BPI) is actively considering a lawsuit against the OCC. The context of the dispute stems from the OCC's conditional approval of national trust charters for crypto firms like Circle, Ripple, and Paxos in late 2025, which BPI and other banking groups have publicly criticized for bypassing traditional regulatory standards.
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Summary

The Bank Policy Institute, representing 40 major U.S. banks, is considering legal action against the Office of the Comptroller of the Currency (OCC) to challenge the granting of national trust charters to crypto firms such as Circle, Ripple, and Paxos. The charters allow these companies to provide fiduciary and custody services traditionally offered by national banks. The potential lawsuit follows upcoming rule revisions effective April 1, 2026, highlighting tensions between traditional banking institutions and emerging fintech and digital asset firms.

Terms & Concepts
  • OCC: The Office of the Comptroller of the Currency, a U.S. Treasury bureau overseeing national banks and federal savings associations, including chartering and supervision.
  • National trust charter: A federal banking license from the OCC enabling a trust bank to offer fiduciary and custody services; sometimes used by crypto-focused firms.
  • Fintech: Short for financial technology; companies using software to deliver financial services, often operating outside traditional bank structures.