Tag: Goldman Sachs

Wall Street Declares War on the OCC: JPMorgan, Goldman Sachs and Citigroup Weigh Lawsuit as Crypto Firms Gain Federal Bank Charters — 11 Approvals in 83 Days

The Bank Policy Institute — representing 40 US mega-banks including JPMorgan Chase, Goldman Sachs, and Citigroup — is preparing to sue the Office of the Comptroller of the Currency over its decision to grant national trust bank charters to Ripple, Circle, BitGo, Fidelity Digital Assets, Paxos and six other crypto and fintech firms. Eleven companies received conditional approvals or filed applications in just 83 days. The legal challenge centres on OCC Interpretive Letter 1176. A new OCC rule effective April 1, 2026 is forcing BPI's hand on timing. On March 5, the American Bankers Association separately rejected the White House's CLARITY Act compromise. The biggest legal confrontation in the history of US crypto banking access is now formally in motion.