ICBA Expresses Concerns with OCC National Trust Bank Chartering Final Rule

Washington, D.C. (Feb. 27, 2026) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Office of the Comptroller of the Currency’s final rule on national trust bank chartering.

“ICBA and the nation’s community banks continue to have significant concerns with the OCC’s chartering rule for national trust banks, which the agency will rely on to charter limited-purpose trust banks that engage substantially in non-fiduciary activities.

“As ICBA said in a comment letter to the OCC just two weeks ago, the agency’s plan is inconsistent with its statutory authority laid out in legislative history, judicial interpretations, and the agency’s own internal precedent. Further, the OCC’s plan to charter uninsured national trust banks that engage in non-fiduciary cryptocurrency-related activities without being subject to the Bank Holding Company Act and other prudential requirements that apply to FDIC-insured institutions poses critical public policy concerns for consumers and the stability of the financial services sector.

“We reiterate our call for the OCC to withdraw the rule or reissue an amended proposal consistent with its own statutory authority. The agency should also impose a moratorium on pending and new charter applications until reaching a final rule that fully aligns with statutory intent and incorporates public comments.

“ICBA and community bankers look forward to continuing to work with policymakers on this rulemaking and the significant statutory and public policy concerns it raises.”

About ICBA
The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.

As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.