Senator Elizabeth Warren Challenges OCC Approval of Ripple as National Trust Bank

US Senator Elizabeth Warren has escalated her criticism of Ripple, sending a letter to the Office of the Comptroller of the Currency (OCC) arguing that their approval of the company as a National Trust Bank is illegal. The senator claims that the companies approved by the OCC have exceeded their authority and pose risks to the US banking system.

The OCC granted conditional approval to Ripple in December 2025, allowing it to operate as a National Trust Bank and positioning its RLUSD stablecoin for further regulatory recognition. However, Warren argues that these approvals violate the National Bank Act and are therefore illegal.

Warren's letter demands answers from the OCC by June 1, seeking charter records and communications related to the approvals. This move is part of a larger pattern of opposition to crypto regulations by Warren, who has filed numerous amendments to the Digital Asset Market Clarity Act.