ICBA Sues OCC Over Crypto National Trust Bank Charters

ICBA filed suit in the U.S. District Court for the District of Columbia against the OCC and Comptroller Jonathan Gould. The complaint challenges the agency’s authority to charter non-depository, non-fiduciary cryptocurrency companies as national trust banks. [1][2]

The lawsuit also challenges the OCC’s March 2026 final rule concerning national bank chartering and Interpretive Letter 1176, issued in January 2021. The case is Independent Community Bankers of America v. Office of the Comptroller of the Currency, No. 1:26-cv-03441. [1][2]

According to the ICBA complaint, the OCC approved or conditionally approved 21 national trust bank charters during the Trump administration, including at least 13 involving cryptocurrency companies. The sources cite December 2025 conditional approvals for several digital-asset firms. [1][2]

ICBA separately challenges Protego’s charter approval. The association alleges that an earlier conditional approval expired in 2023 after Protego failed to satisfy requirements for opening its proposed bank, and cites financial difficulties, layoffs and vendor litigation as concerns the OCC should have considered. [1][2]

The complaint disputes the application of a statute allowing certain uninsured national banks to become qualified payment stablecoin issuers. ICBA argues that the law does not generally regulate cryptocurrency activity and does not take effect until January 18, 2027, or 120 days after final implementing regulations, whichever comes first. [1][2]