Why April Is Important For Ripple’s Bank Aspirations In The US

The regulator has clarified that these amendments were made to align with the language of the National Bank Act and to avoid any misunderstandings or misinterpretations that could lead to the wrongful imposition of restrictions on the activities of national trust banks.

In response to comments on the Notice of Proposed Rulemaking (NPR), the OCC also said it would not change the existing rule to explicitly state that national trust banks need not perform fiduciary activities within their required scope. Instead, the regulator said it will review each charter application on its own merits and make its final decisions on a case-by-case basis.