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OCC denies Wise US bank charter over AML failures, shares fall 11%
Jul 24, 2026
< 1 min read
by Hannah Collymore
for CryptoPolitan
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AI Overview
The OCC rejected Wise's application for a US national trust bank charter on July 23, citing anti-money-laundering deficiencies, and the firm's shares fell about 11% within 24 hours. The decision creates regulatory and security headwinds that could delay Wise's US expansion and any crypto custodial or payments-related product plans, weighing on adoption and market confidence.
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Wise (NASDAQ: WSE) has lost its bid for a US national trust bank charter, and in less than 24 hours, its shares have dropped by 11%. The Office of the Comptroller of the Currency (OCC) rejected the payments firm’s application over anti-money-laundering deficiencies on Thursday, July 23. Wise has been making moves to expand its...
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