Warren Calls for Suspension of World Liberty Bank Charter Over Trump Ties
U.S. Senator Elizabeth Warren has urged federal regulators to immediately halt the ongoing review of a national bank charter application submitted by World Liberty Financial Inc. (WLFI), citing direct connections to former President Donald Trump and his family.
Political Conflict of Interest? Warren Sounds the Alarm In a letter to the Office of the Comptroller of the Currency (OCC), Warren warned that continuing to evaluate WLFI’s application could severely undermine the integrity of federal financial oversight. She referenced her earlier warnings from summer 2025, where she questioned how the OCC could guarantee its independence from the financial interests of the President. At the time, OCC dismissed her concerns as speculative. Warren now argues those fears have materialized. “Approving this application could enable the President to indirectly control his own financial institution through a regulator he can remove at will,” she wrote. She added that if the OCC approves the license, it would be responsible for creating rules that directly affect the profitability of Trump’s company — and for supervising both the firm and its competitors.
Trump Family’s Crypto Bank Sparks Controversy The issue escalated after WLFI confirmed it had formally filed for a national trust bank charter. The company also created a new subsidiary, WLTC Holdings LLC, and submitted a de novo application under OCC procedures. Senator Warren is calling for an immediate suspension of the review — one that would stay in effect until Donald Trump fully divests from his interests in World Liberty.
Growing Backlash Against Trump’s Crypto Involvement This situation comes amid growing public scrutiny of Trump’s expanding presence in the crypto industry. Cardano founder Charles Hoskinson recently voiced concern over the sector’s political trajectory. Back in November 2025, Congressman Jamie Raskin released a report from the House Democratic staff, alleging that Trump used his investments in crypto ventures like World Liberty to significantly enrich himself. According to public records, WLFI was co-founded not only by Donald Trump but also by his sons Barron, Eric, and Donald Trump Jr. The platform has since reached a multibillion-dollar valuation due to its crypto activities.
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