ICBA Sues OCC to Block Crypto Firms' National Trust Bank Charters

The Independent Community Bankers of America sued the Office of the Comptroller of the Currency on Friday, October 2, 2026, in the U.S. District Court for the District of Columbia, challenging the agency's authority to grant national trust bank charters to cryptocurrency companies. The complaint, filed under the Administrative Procedure Act, targets a March 2, 2026 final rule tied to OCC Interpretive Letter No. 1176. ICBA seeks to have both declared unlawful, calling the charter a "side door into the banking system for crypto firms." ICBA President and CEO Rebeca Romero Rainey said the charters exceed congressional authority, granting crypto firms federal credibility without Community Reinvestment Act obligations, consolidated supervision, capital and liquidity standards, or FDIC insurance. The group cited a consumer-protection gap and singled out Protego Holdings, whose conditional charter it wants vacated. The suit escalates a broader fight as crypto firms including Circle, Ripple, Paxos, Fidelity, BitGo, Payward, Block and World Liberty Financial pursue OCC approval. It lands as the OCC races to finalize GENIUS Act stablecoin rules by November.