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ICBA Sues OCC Over Crypto Trust Charters in Blow to Community Banking

Guavy AI Editorial Team
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The Independent Community Bankers of America (ICBA) has filed a lawsuit against the Office of the Comptroller of the Currency (OCC) over its decision to issue charters for banks that offer cryptocurrency services.

The lawsuit, which was announced on January 10, claims that the OCC's move is an overreach of its authority and poses a risk to community banks.

According to ICBA President and CEO Rebeca Romero Rainey, 'the OCC's crypto charter is a threat to community banking and will only serve to enrich a few large Wall Street firms at the expense of Main Street.'

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