The U.S. Senate Committee on Banking, Housing and Urban Affairs published a minority press release containing Ranking Member Elizabeth Warren’s opening statement and hearing exchange with U.S. prudential regulators on what she described as a “Wall Street-first” deregulatory agenda and conflicts related to President Trump’s crypto business. The questioning covered proposed changes to bank capital and stress-testing, supervisory and enforcement posture, and the Office of the Comptroller of the Currency’s handling of a pending bank charter application by Trump’s crypto company, World Liberty. Warren argued that regulators are pursuing measures that weaken bank safeguards, including capital rules, while reducing enforcement intensity and staffing, and she cited terminated enforcement actions against JPMorgan, Wells Fargo, Citigroup, and Goldman Sachs. In the exchange with Comptroller Jonathan Gould, she asked whether World Liberty’s application disclosed a reported USD 500 million acquisition of a 49% stake by the United Arab Emirates’ National Security Advisor, noting OCC requirements to disclose “principal shareholders” with at least a 10% direct or indirect stake and to file biographical and financial reports; she requested that the Committee review an unredacted application in camera and urged denial or delay of the application based on national security and conflict concerns. Gould declined to discuss application specifics, said he would consider the request consistent with procedures, and stated the OCC would process the application as it does others; Warren also said she would submit a question for the record on her claim that the Federal Reserve’s Vice Chair for Supervision Michelle Bowman’s rulemaking would reduce required capital at the largest banks by more than USD 200 billion, or 23%.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-02-26
U.S. Senate Committee on Banking, Housing and Urban Affairs publishes Warren hearing exchange challenging prudential regulators on capital rollbacks and Trump crypto bank charter
The U.S. Senate Committee on Banking, Housing and Urban Affairs released a minority press statement featuring Ranking Member Elizabeth Warren's critique of a "Wall Street-first" deregulatory agenda and conflicts involving President Trump's crypto business. Warren highlighted concerns over weakened bank safeguards, reduced enforcement, and questioned the Office of the Comptroller of the Currency's handling of World Liberty's bank charter application. She also raised concerns about Federal Reserve Vice Chair Michelle Bowman's rulemaking potentially reducing capital requirements at major banks by over USD 200 billion.