In testimony to the House of Representatives Committee on Financial Services, Comptroller Jonathan V. Gould said the Office of the Comptroller of the Currency is shifting away from post-2008 efforts to eliminate risk and is refocusing on managed risk, new bank formation, supervision grounded in law and material financial risk, and completion of its stablecoin framework. He also said the agency is reviewing alleged debanking by the largest national banks. Gould argued that post-crisis policies reduced diversity in the banking system and hurt community banks, noting that the number of banks with less than USD 1 billion in total assets fell by 50 percent. On charters, he said the OCC approved more than 1,000 de novo applications between 1990 and 2008, but that application volumes and approvals fell by 90 percent after 2008. He said the agency received as many applications in 2025 as in the previous four years combined, that a full-service national bank has opened for the first time in five years, and that 10 more banks have been conditionally approved this year. On supervision, the OCC is putting core concepts such as the definition of unsafe and unsound practices into regulation and reviewing past supervisory criticisms and enforcement actions for alignment with its standard for material financial risk. Gould said the OCC is working through comments on its GENIUS Act proposal and plans to finalize it, with the stated aim of supporting consumer protections for stablecoin users and ensuring OCC institutions can meet obligations on both deposits and stablecoins. He also said the agency has made considerable progress reviewing the activities of the largest national banks and is investigating complaints of alleged debanking in line with the President’s executive order.
Office of the Comptroller of the Currency2026-06-04
United States Office of the Comptroller of the Currency outlines risk based supervision shift and de novo charter revival in House testimony
The Office of the Comptroller of the Currency signalled a shift toward managed risk, renewed support for new bank formation, supervision grounded in law and material financial risk, and completion of its stablecoin framework. Comptroller Jonathan V. Gould highlighted post-crisis declines in community banks and de novo charters, noted a recent pickup in applications and approvals, and said the agency is codifying core supervisory concepts and reviewing past actions for consistency with its material financial risk standard. He added that the OCC is finalizing its GENIUS Act stablecoin proposal and investigating alleged debanking by the largest national banks.