House Democrats Demand Answers From Treasury Over Trump-Linked Crypto Bank Bid

Senior House Democrats have formally challenged the Treasury Department over a pending national trust bank charter application tied to a company linked to former President Donald Trump, pressing Treasury Secretary Scott Bessent for clarity on the Office of the Comptroller of the Currency’s (OCC) review process and potential outside influence ^[1][2].

Lawmakers flagged national security and systemic-risk concerns after reports of foreign investment in World Liberty Financial — including questions about a UAE stake — and requested documentation on any White House involvement and on safeguards that protect the OCC’s chartering process from outside influence ^[1][2][3][4].

The Democrats asked Treasury to explain how it will ensure the OCC’s independence and to provide records related to the review, saying approval without adequate oversight could jeopardize confidence in the U.S. banking system ^[3][4].

The letters from House Democrats mark an escalation in congressional scrutiny of the charter application and seek increased transparency from Treasury and the OCC as the review proceeds ^[1][4].