{
  "id": 9482692,
  "title": "Trump family at centre of US bank-chartering boom",
  "url": "https://urgent.news/2026/09/24/trump-family-at-centre-of-us-bank-chartering-boom",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T03:48:21.000Z",
  "source": {
    "name": "Al Majalla English",
    "slug": "al-majalla-english",
    "url": "https://en.majalla.com/node/333184/business-economy/trump-family-centre-us-bank-chartering-boom"
  },
  "original_language": "en",
  "account": "Donald Trump's family is at the center of a surge in U.S. applications for new bank charters since his return to the White House. In August, the Office of the Comptroller of the Currency (OCC) granted preliminary approval for World Liberty Trust Company, an affiliate of World Liberty Financial, which is associated with the Trump family. This decision follows a surge in new bank applications, with 40 submitted to the OCC over the past 18 months, nearly matching the 48 received in the previous 13 years. Twenty-three of these applications involve digital-asset activity.\n\nThe regulatory landscape since the 2008 financial crisis has created a cautious environment for launching new banks, requiring higher capital and increased scrutiny. Applications fell sharply during 2011-2014, averaging fewer than four per year. However, the OCC's recent declaration that the U.S. and OCC are \"open for business again\" signals a willingness to consider new charter applications and unconventional business models.\n\nWorld Liberty Trust, a subsidiary of World Liberty Financial, plans to issue a $1 stablecoin, manage reserves, and provide custody services for digital assets. While the ownership structure does not inherently create a conflict of interest, it makes the application more sensitive given the proximity of stakeholders to the current political leadership. The Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act), signed by Trump in July 2025, reshaped the framework governing payment stablecoins, setting rules for licensing, reserves, redemption, disclosure, and supervision of issuers.",
  "summary": "Trump family at centre of US bank-chartering boom newspress_en Thu, 09/24/2026 - 04:48 Business & Economy Since Donald Trump returned to the White House, applications for new bank charters have risen to levels not seen for years. In August, the Office of the Comptroller of the Currency (OCC) granted preliminary conditional approval to establish World Liberty Trust Company—an affiliate of World…",
  "key_points": [
    "Trump family at center of U.S. bank-chartering surge",
    "40 new bank applications submitted to OCC in 18 months",
    "World Liberty Trust to issue $1 stablecoin and manage digital assets"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}