OCC Conditionally Approves Five National Trust Bank Charters
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TLDR: Two de novo national trust banks, including Ripple, receive conditional federal approval. Three state trust companies convert to national trust banks under OCC supervision. New entrants increase access to credit, services, and financial products for consumers. Federal oversight ensures consistency, governance, and risk management across all banks. The Office of the Comptroller of the Currency has granted conditional approval to five national trust bank applications, signaling growth within the federal banking system. These institutions, once fully approved, will join approximately 60 other national trust banks already supervised by the OCC. Each application underwent a detailed evaluation to ensure compliance with statutory and regulatory standards. According to the OCC, these approvals provide consumers with increased access to financial products and services while encouraging competition within the banking industry. Comptroller Jonathan V. Gould emphasized that the federal banking system benefits from a dynamic mix of traditional and innovative institutions that meet modern financial needs. New entrants into the federal banking sector are good for consumers, the banking industry and the economy. Read about the OCC’s conditional approval of five national trust bank charter applications. https://t.co/xF3GzoJXGf pic.twitter.com/NhV3HfoFNj — OCC (@USOCC) December 12, 2025 De Novo National Trust Banks Enter the Federal System Two de novo national trust bank applications received conditional approval: First National Digital Currency Bank and Ripple National Trust Bank. The OCC reviewed each application individually, assessing governance structures, operational readiness, and compliance measures. This review process aligns with the rigorous standards applied to all charter applications. The OCC noted that these approvals support a competitive financial ecosystem. New entrants provide consumers with additional credit options and services, fostering a diversified banking environment. These banks are positioned to contribute once they meet the conditions outlined by the agency. These additions will integrate into a federal banking system comprising over 1,000…
