House Democrats press Treasury Sec. Bessent over OCC review of Trump-linked World Liberty Financial’s trust bank charter

House Democrats, led by Rep. Gregory Meeks, sent a formal letter to Treasury Secretary Scott Bessent demanding answers about the Office of the Comptroller of the Currency's (OCC) review of World Liberty Financial's application for a national trust bank charter. The lawmakers expressed concerns regarding foreign ownership, national security implications, and the potential for political influence over the OCC's independent chartering process, especially given World Liberty Financial's ties to Donald Trump and reported foreign investment, including a significant stake from the UAE. They requested details on safeguards against political influence and how conflicts of interest related to the Trump-linked crypto venture are being managed. This formal inquiry escalates previous questioning and follows other congressional actions, including demands for a national security review of the reported UAE investment.

(Source：The Block)