World Liberty Financial nears OCC nod for federal trust charter

World Liberty Financial is nearing approval from the Office of the Comptroller of the Currency for a federal trust charter, the report says. If granted, the charter would allow the firm to operate as a national trust company under OCC supervision.

A federal trust charter permits a company to act as a fiduciary and provide custody and trust services across state lines under a single federal regulator. The OCC, part of the U.S. Department of the Treasury, evaluates applications to confirm compliance with capital, governance and consumer-protection standards.

The application review covers the firm’s management and board, financial condition, risk controls and anti-money-laundering programs. Final approval commonly includes conditions the OCC requires before full national operations can begin.

With a federal charter, World Liberty Financial would be examined and regulated by the OCC rather than relying solely on state trust charters. That framework would let the company offer trust and fiduciary services to clients in multiple states under one supervisory authority.

The report did not provide a timeline for a final decision or list specific conditions tied to possible approval. The OCC generally does not discuss pending applications and did not comment on the matter. Representatives for World Liberty Financial were not quoted in the report.

The application arrives amid a trend of nonbank and fintech firms seeking federal charters to expand nationwide services. The OCC has reviewed similar applications from other companies in recent years. The outcome for World Liberty Financial will depend on whether the OCC determines the firm meets federal requirements for safety, soundness and compliance.