The Independent Community Bankers of America (ICBA) has filed a lawsuit against the Office of the Comptroller of the Currency (OCC) over rules allowing crypto-focused companies to obtain national trust bank charters. The dispute centers on a final rule published by the OCC in March 2026, which clarified that national banks limited to trust-company operations can also conduct related non-fiduciary activities. The ICBA argues this creates a side door for crypto companies to gain the credibility of a federal bank charter while avoiding requirements such as FDIC insurance and Community Reinvestment Act obligations. Circle received OCC’s final authorization to establish First National Digital Currency Bank, N.A., while Ripple, BitGo, and Paxos have also secured recent trust bank approvals. The ICBA is asking the US District Court for the District of Columbia to declare both the OCC’s final rule and Interpretive Letter N1176 unlawful.
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