ICBA Challenges OCC's Crypto Bank Charter Authority

The Independent Community Bankers of America (ICBA) has filed a lawsuit against the Office of the Comptroller of the Currency (OCC), challenging its authority to grant national trust bank charters to cryptocurrency companies. The lawsuit targets OCC's February 2026 final rule, which permits national trust banks to conduct certain non-fiduciary activities.

The ICBA argues that the OCC has allowed crypto firms to obtain federal bank charters without being subject to several requirements that apply to insured traditional banks. This includes avoiding capital, liquidity, Community Reinvestment Act, and consolidated supervisory standards.

At the center of the dispute is Section 27(a) of the National Bank Act, which the OCC claims grants it authority to charter national trust banks for certain non-fiduciary activities related to trust-company operations. However, the ICBA disputes this interpretation, arguing that Congress did not intend national trust charters to provide a pathway into the banking system for companies whose primary businesses involve digital assets.