Democrats Seek to Block Trump-Linked Bank Charter Ahead of Crypto Vote

US Senate Democrats are pushing for a vote on legislation that would revoke a preliminary federal bank charter granted to World Liberty Trust Company, a lender partly owned by President Donald Trump and his family. Senator Elizabeth Warren is seeking unanimous consent to pass the Ending Presidential Corruption in Banking Act, which would terminate the company's charter and bar federal agencies from approving banking applications involving entities owned by senior government officials.

Warren argues that the approval raises national security concerns and money laundering risks, citing questions about management oversight. She is making this push just before the Senate votes on advancing the Clarity Act, a crypto bill she says would enable Trump to profit further from cryptocurrency-related ventures.

The proposed measure targets Trump-linked banking approval, with Warren framing the dispute as both a banking oversight issue and a broader conflict-of-interest debate tied to the digital asset sector. She argues that the crypto bill poses risks to families, national security, and the economy while increasing Trump's ability to earn billions of dollars from cryptocurrency.