The Bank Policy Institute (BPI), a trade group featuring CEOs from major banks like JPMorgan Chase and Goldman Sachs, is contemplating a lawsuit against the Office of the Comptroller of the Currency (OCC) concerning its decision to grant national trust bank charters to cryptocurrency and fintech companies. This consideration arises amidst claims from banking groups that the OCC has overlooked warnings about its reinterpretation of federal licensing rules, potentially allowing these firms to operate without the stringent capital and compliance requirements that traditional banks face. Despite this backlash, the OCC has continued to approve charter applications, recently granting conditional approvals to firms such as Ripple, Circle, and Crypto.com, as part of its efforts to integrate digital asset firms into the mainstream financial landscape.
Jamie Dimon: Jamie Dimon serves as CEO of JPMorgan Chase and a board member of the Bank Policy Institute. He has recently critiqued stablecoin yield policies in public forums, reflecting banking sector concerns over crypto integration. His influence shapes BPI’s pushback against OCC’s regulatory shifts favoring fintech entrants.
David Solomon: David Solomon is Chairman and CEO of Goldman Sachs, also sitting on the Bank Policy Institute board. He contributes to BPI’s resistance to OCC national trust charters for crypto firms without equivalent compliance burdens. Solomon’s leadership underscores Wall Street’s focus on preserving regulatory distinctions.
Goldman Sachs: Goldman Sachs is a global investment bank specializing in securities, investment banking, and asset management. Through CEO David Solomon’s role on the Bank Policy Institute board, it supports advocacy against OCC national trust charters for non-bank crypto firms. The firm navigates crypto opportunities like tokenized securities while pushing for stringent oversight.
Brian Moynihan: Brian Moynihan is CEO of Bank of America and a Bank Policy Institute board member. He has voiced warnings about deposit risks from unregulated stablecoins in early 2026 statements. Through BPI, he advances legal scrutiny of the OCC’s pro-crypto chartering approach.
JPMorgan Chase: JPMorgan Chase is a major U.S. bank offering comprehensive financial services from investment banking to consumer products. As a key participant in the Bank Policy Institute, it backs efforts to challenge the OCC’s easing of charter rules for crypto competitors. CEO Jamie Dimon recently weighed in on stablecoin yield debates amid broader tensions over digital asset regulation.
Bank of America: Bank of America provides extensive retail banking, wealth management, and corporate services across the U.S. CEO Brian Moynihan’s position on the Bank Policy Institute board aligns it with opposition to OCC charter approvals lacking full banking safeguards. Moynihan has highlighted stablecoin threats to traditional banking stability in recent discussions.
Bank Policy Institute: The Bank Policy Institute is a nonpartisan public policy, research, and advocacy group representing leading universal and regional banks in the United States. Its board features prominent CEOs from major institutions, guiding its positions on regulatory matters. The organization is considering a lawsuit against the OCC for granting national trust bank charters to crypto and fintech firms, arguing this reinterpretation risks blurring statutory banking boundaries and harming consumers.
Banking Advocacy: BPI and allied groups continue criticizing OCC actions as failing to enforce stringent capital and compliance rules on charter recipients.
OCC Charter Push: The OCC has accelerated conditional approvals for national trust bank charters to crypto firms like Crypto.com and Revolut in early 2026 despite banking opposition.
Regulatory Expansion: OCC recently finalized rules allowing national trust banks to conduct non-fiduciary activities, bolstering crypto custody frameworks effective April 2026.
Source: TheBlockCo
