The U.S. Senate Committee on Banking, Housing and Urban Affairs published a statement from Ranking Member Senator Elizabeth Warren responding to World Liberty Financial filing an application for a federal bank charter, urging the Senate to address potential conflicts of interest as it considers crypto market structure legislation. Warren argued that the charter application would be reviewed, and in her view likely approved, by a regulator that serves at the pleasure of the President, and said the application raises unprecedented concerns because World Liberty Financial is described as a crypto venture co-founded by President Donald Trump. She also pointed to a letter she sent last July to the Comptroller of the Currency seeking information on steps to insulate the Office of the Comptroller of the Currency from the President’s financial conflicts of interest, particularly given the agency’s new responsibilities following passage of the GENIUS Act.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-01-07
U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member warns of conflicts in World Liberty Financial federal bank charter application
Senator Elizabeth Warren urged the U.S. Senate Committee on Banking, Housing and Urban Affairs to address potential conflicts of interest in crypto market structure legislation following World Liberty Financial's federal bank charter application, highlighting concerns due to its co-founder, President Donald Trump. Warren emphasized the need for transparency from the Office of the Comptroller of the Currency, especially after the GENIUS Act expanded its responsibilities.