June 26, 2026, LegalClarity, Stripe Lawsuit: Privacy, Patents, And Fund Disputes
The OCC granted preliminary conditional approval on February 12, 2026. The conditions include maintaining at least $45 million in Tier 1 capital, keeping a minimum of $27.5 million in eligible liquid assets, and complying with the GENIUS Act governing stablecoin activities. The bank must open within 18 months or the approval expires.
The application drew opposition from the National Community Reinvestment Coalition, the Independent Community Bankers of America, and the Bank Policy Institute. The NCRC argued the OCC lacked authority to issue national trust bank charters to stablecoin firms, called the proposal “regulatory arbitrage” that would avoid Community Reinvestment Act obligations, and cited Stripe’s enforcement history and ongoing litigation as evidence of inadequate internal controls.
