Democrats introduce bill to bar Trump family from bank ownership after OCC charter approval
On 18 August, Senate Democrats introduced legislation in Washington, D. C. that would bar the president, vice president and their families from owning or controlling banks, after the Office of the Comptroller of the Currency gave a conditional charter to a Trump-linked crypto venture. The regulatory step occurred on 14 August, when the OCC granted a preliminary conditional approval to World Liberty Trust Company, a national trust bank tied to the crypto firm founded by Donald Trump Jr.
, Eric Trump and partners Zach and Steve Witkoff, allowing it to issue a U. S. dollar-pegged stablecoin. Lawmakers and ethics watchdogs criticized the decision as a potential conflict of interest.
Actors
Office of the Comptroller of the Currency (OCC)
World Liberty Trust Company, National Association
World Liberty Financial
Donald J. Trump
Zach Witkoff
Steve Witkoff
Locations
Bay Harbor Islands, Florida, United States
Washington, D.C., United States
