OCC's Crypto Bank Charter Rules Face Challenge from Community Bankers

The Independent Community Bankers of America (ICBA) has filed a lawsuit against the Office of the Comptroller of the Currency (OCC) over its crypto bank charter rules. The ICBA argues that the OCC exceeded its statutory authority in granting national trust charters to non-depository entities, including Stripe's Bridge National Trust Bank and Crypto.com's Foris DAX.

The dispute centers around Interpretive Letter 1176, issued by the OCC in 2021, which allowed national trust banks to engage in non-fiduciary activities. The ICBA claims that this expansion was not authorized by Congress and creates a harmful regulatory imbalance compared to traditional lenders.

The lawsuit also targets Protego Holdings Corp., which received conditional approval for a national trust charter in February 2026. The ICBA argues that Protego's business plan includes non-fiduciary activities, which are not permitted under the National Bank Act.