OCC chief says Democrats applying sole political pressure in World Liberty charter choice
World Liberty Financial, tied to President Trump, drew renewed scrutiny in Congress as regulators discussed its bid for a national trust-bank charter and the rollout of the GENIUS Act for stablecoins. OCC Comptroller Jonathan Gould rejected Democratic claims of political pressure, saying the only pressure he has felt came from Democrats, and insisted the agency will follow charter law and ethics rules. Democrats argued World Liberty’s foreign investors and crypto links, including Binance, make it unsuitable for a bank charter and raised concerns about a Trump appointee deciding on a benefit for a company partly owned by the president’s family. At the same hearing, regulators outlined early implementation of the stablecoin law. FDIC Chairman Travis Hill said new rules, including customer-ID requirements, are coming soon. NCUA Chairman Kyle Hauptman praised stablecoins’ potential for faster payments, while Rep. Brad Sherman warned they could enable tax evasion and undermine the dollar. The Fed also said Kraken’s “skinny” master account grants only limited, closely monitored access.
