Traditional banks want the US banking regulator to pump the brakes on approving charter applications from digital asset firms like Ripple, Circle and Fidelity. A group of banking and credit union lobbying associations wrote to directors of the Office of the Comptroller of the Currency (OCC) last week to comment on recent national bank charter
Ripple, the creator of the altcoin XRP and developer of distributed ledger technology, has applied for a national trust bank charter from the Office of the Comptroller of the Currency. CEO Brad Garlinghouse confirmed the news in an X post. He also said that earlier this week, Ripple applied for a master account from the
Mortgage modifications surged in the first quarter at the nation’s largest banks, reversing a yearlong decline, while foreclosure activity also saw a marked uptick, according to a new government report. The data suggests rising financial stress is hitting certain borrower segments, even as conditions for the mortgage market overall appear relatively strong, based on numbers
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Jonathan Gould, the nominee to head up the Office of the Comptroller of the Currency, pledged to “shine a spotlight” on any de-banking activities during a Senate Banking Committee nomination hearing Thursday. Gould,
President Donald Trump at the 2024 Bitcoin Conference in Nashville, TN. The Washington Post via Getty Images The world of financial services is always evolving, but recently there are signs of a seismic shift. At the heart of this transformation is the rise of cryptocurrencies. Digital assets like Bitcoin, Ethereum, and a host of others
President Donald Trump at the 2024 Bitcoin Conference in Nashville, TN. The Washington Post via Getty Images The world of financial services is always evolving, but recently there are signs of a seismic shift. At the heart of this transformation is the rise of cryptocurrencies. Digital assets like Bitcoin, Ethereum, and a host of others
Erebor Says Palmer Luckey’s “Political Network” Will Help With Regulators
Anduril founder Palmer Luckey’s new digital bank, Erebor, told prospective investors in a fundraising memo that it expects federal banking regulators to approve its plans by late 2025 — a speedy timeline that it says is possible because of Luckey’s “political network” and the bank’s close ties to regulators. The memo said the bank anticipated