Senator Elizabeth Warren, Ranking Member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, wrote to Comptroller of the Currency Jonathan Gould urging the Office of the Comptroller of the Currency to pause its review of a bank charter application from World Liberty Financial, a cryptocurrency company co-founded by President Trump, until Trump divests and eliminates financial conflicts of interest involving himself, his family or the company. She argued that approving the application while crypto market structure legislation remains unresolved would further erode trust in the financial system and place the OCC in an unprecedented conflict of interest. Warren pointed to an earlier warning she sent in July and said the OCC had previously dismissed her concerns as “hypothetical.” The letter contends that, if the charter were approved, the OCC would both set rules affecting the profitability of the President’s company and supervise and enforce banking law against it and its competitors, while the Comptroller serves at the pleasure of the President. Warren also noted that Congress did not address these conflicts in the GENIUS Act and said the current draft of the crypto market structure bill slated for a Committee vote does not address Trump’s conflicts. Warren asked Gould to provide a written commitment by January 20, 2026 to delay the OCC’s review until President Trump has divested from the company and eliminated the relevant financial conflicts of interest.

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