Community Banks Sue OCC Over Crypto Firm Trust Bank Charters
A group of community banks has sued the Office of the Comptroller of the Currency (OCC), alleging that the regulator overstepped its authority by allowing cryptocurrency firms to obtain limited national trust bank charters. The Independent Community Bankers of America (ICBA) filed the lawsuit on Friday.
The Independent Community Bankers of America (ICBA) filed a lawsuit Friday against a US bank regulator, arguing that the agency exceeded its authority by allowing cryptocurrency companies to seek limited national trust bank charters.