The Office of the Comptroller of the Currency (OCC) has granted preliminary conditional approval for the de novo national bank charter application of Erebor Bank, National Association, Columbus, Ohio. The OCC said the approval followed a thorough review using the same rigorous standards applied to all charter applications. Comptroller of the Currency Jonathan V. Gould described Erebor as the first de novo bank to receive a preliminary conditional approval since he arrived at the OCC and linked the decision to an approach that does not impose blanket barriers on banks seeking to engage in permissible digital asset activities, provided such activities are conducted in a safe and sound manner. A conditional approval letter for Erebor Bank was published alongside the announcement.
Office of the Comptroller of the Currency 2025-10-15
Office of the Comptroller of the Currency grants preliminary conditional approval for Erebor Bank’s de novo national bank charter
The Office of the Comptroller of the Currency (OCC) granted preliminary conditional approval for Erebor Bank, National Association's de novo national bank charter application. This marks the first such approval under Comptroller Jonathan V. Gould, emphasizing a policy that allows banks to engage in permissible digital asset activities safely. A conditional approval letter was also published.