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2 days agoBanking lobby raises objections over Ripple’s newly approved trust charter
The American Bankers Association has strongly criticized the US banking regulator for granting Ripple Labs conditional approval to operate a national trust bank. The lobby group argued that extending trust charters to crypto focused firms poses risks to consumers and could blur the definition of traditional banking. ABA president Rob Nichols warned that allowing entities without conventional fiduciary roles to operate under such charters may open the door to regulatory arbitrage.
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neutral
2 days agoBanking lobby raises objections over Ripple’s newly approved trust charter
The American Bankers Association has strongly criticized the US banking regulator for granting Ripple Labs conditional approval to operate a national trust bank. The lobby group argued that extending trust charters to crypto focused firms poses risks to consumers and could blur the definition of traditional banking. ABA president Rob Nichols warned that allowing entities without conventional fiduciary roles to operate under such charters may open the door to regulatory arbitrage.
Explore:Mutual Fund Themes
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The American Bankers Association criticized regulators over Ripple’s trust bank approval, citing consumer risk, regulatory ambiguity, and rising competition from crypto firms entering banking services.
The American Bankers Association has strongly criticized the US banking regulator for granting Ripple Labs conditional approval to operate a national trust bank. The lobby group argued that extending trust charters to crypto focused firms poses risks to consumers and could blur the definition of traditional banking. ABA president Rob Nichols warned that allowing entities without conventional fiduciary roles to operate under such charters may open the door to regulatory arbitrage.
The American Bankers Association has strongly criticized the US banking regulator for granting Ripple Labs conditional approval to operate a national trust bank. The lobby group argued that extending trust charters to crypto focused firms poses risks to consumers and could blur the definition of traditional banking. ABA president Rob Nichols warned that allowing entities without conventional fiduciary roles to operate under such charters may open the door to regulatory arbitrage.
Dec 13, 2025 • 07:55