The institution the Office of the Comptroller of the Currency (OCC) conditionally approved on Aug. 14 cannot take deposits and cannot make a loan. It has no employees, no capital, and no opening date. If it fails to raise $20 million within 12 months, or fails to open within 18 months, the approval expires on its own terms. None of that is the interesting part.
The interesting part is the document, Corporate Decision #1385, filed under OCC control number 2026-Charter-344521, grants preliminary conditional approval to World Liberty Trust Company, National Association, of Bay Harbor Islands, Florida, a limited-purpose national trust bank connected to World Liberty Financial, the crypto venture whose co-founders include Eric Trump, Donald Trump Jr., and Barron Trump. And before it grants anything, the letter sets out, in the regulator's own words, every objection that was filed against it.
