ICBA Sues OCC Over Crypto Trust Bank Charters

The Independent Community Bankers of America (ICBA) has filed a lawsuit against the Office of the Comptroller of the Currency (OCC), challenging its approach to granting national trust bank charters to crypto and digital-asset businesses. The lawsuit specifically targets the OCC’s 2026 National Bank Chartering final rule, Interpretive Letter 1176, and its approval of Protego as a national trust bank.

The ICBA alleges that the OCC has overstepped its authority by allowing institutions that do not take deposits or conduct traditional fiduciary activities to operate under national trust bank charters. The complaint argues that these actions violate the OCC’s statutory limits.

The lawsuit highlights concerns over the OCC’s regulatory framework, particularly its interpretation of what constitutes a national trust bank. The ICBA asserts that the OCC’s current policies could set a precedent that undermines the integrity of traditional banking practices.