House Democrats press Treasury on World Liberty bank charter and UAE stake
Background and Context
House Democrats have urged the U.S. Treasury Secretary, Scott Bessent, to address concerns over World Liberty Financial’s application for a national trust bank charter. The push comes amid scrutiny of the company’s foreign ownership and potential systemic risks.
Key Allegations and Reports
- A senior royal from the United Arab Emirates is reportedly linked to a $500 million stake in World Liberty Financial, with reports indicating the royal acquired nearly half of the company’s equity.
- The lawmakers have raised national security alarms, warning that approving the bank charter could undermine the legitimacy of the U.S. banking system.
- World Liberty Financial filed a de novo application with the Office of the Comptroller of the Currency (OCC) on January 7, 2026, seeking to be chartered as a national trust bank.
Systemic and National Security Concerns
The Democrats have cited systemic risk and foreign influence as key concerns. They argue that allowing a foreign-linked entity to operate under a U.S. bank charter could pose significant risks to financial stability and national security.
Call for Oversight and Transparency
Lawmakers have demanded that Treasury Secretary Bessent explain the safeguards in place to protect the OCC’s chartering process from outside influence. They also called for a full review of the company’s operations and ownership structure.
來源：https://cointelegraph.com/news/democrats-press-treasury-on-trump-world-liberty-financial