{"database": "press", "table": "releases", "rows": [["https://www.vanhollen.senate.gov/news/press-releases/following-approval-of-trump-crypto-company-bank-application-van-hollen-warren-colleagues-introduce-the-ending-presidential-corruption-in-banking-act", "Following Approval of Trump Crypto Company Bank Application, Van Hollen, Warren, Colleagues Introduce the Ending Presidential Corruption in Banking Act", "2026-08-15", "2026", "2026-08", "Democrat", "Senate", "MD", "Chris Van Hollen", "V000128", "www.vanhollen.senate.gov", "vanhollen", "https://www.vanhollen.senate.gov/news/press-releases", "scraper", "Immediately following the Office of the Comptroller of the Currency's (OCC) approval of the Trump crypto company bank charter, U.S. Senator Chris Van Hollen (D-Md.) joined Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, and Senators Angela Alsobrooks (D-Md.), Chris Murphy (D-Conn.), Bernie Sanders (I-Vt.), Richard Blumenthal (D-Conn.), Jack Reed (D-R.I.), Andy Kim (D-N.J.), Tammy Duckworth (D-Ill.), and Ruben Gallego (D-AZ) in introducing the Ending Presidential Corruption in Banking Act. The bill would ensure that no President, Vice President, their immediate families, or other senior government officials can exploit their positions to own or control a bank, which could serve as a major vehicle for corrupt dealings.\n\nOn January 5, 2026, the Trump Family crypto company World Liberty Financial (WLF) applied to the OCC for a national bank charter. President Trump, through EO 14215, had previously asserted control of the OCC.\n\n\u201cOur banking regulators should work to protect consumers and the integrity of our financial system, not enrich their bosses. President Trump and his family have raked in billions of dollars through corrupt deals and are now attempting to get the President\u2019s own administration to approve a bank for his family\u2019s crypto business. It is critical that Congress stand up against this corruption and protect consumers, safeguard our financial system, and prevent politicians from abusing these assets for their own personal gain,\u201d said Senator Van Hollen.\n\n\u201cPresident Trump is now the first President in history to approve, operate, and supervise his own bank,\u201d said Ranking Member Warren. \u201cThis is the most brazen act of self-dealing our financial system has ever seen \u2014 and Congress cannot allow it to stand. The Ending Presidential Corruption in Banking Act will close the door on this kind of unprecedented corruption.\u201d\n\n\u201cThis President's corruption knows no bounds. For the first time in our history, a President is now chartering and overseeing his own bank\u2014injecting risk into our financial system and fueling the Trump family\u2019s business endeavors. It is Congress' responsibility and duty now to rein in this corruption and ensure that bank charters, deposit insurance, and other banking licenses cannot be handed out to entities influenced or controlled by any President\u2019s family,\u201d said Senator Alsobrooks.\n\n\u201cPresident Trump has systematically weakened oversight of the crypto industry while his family has raked in billions through their numerous crypto schemes,\u201d said Senator Blumenthal. \u201cNow, Trump\u2019s hand-picked regulators at the Treasury Department have granted World Liberty Financial a banking charter. This latest act of self-dealing puts our banking system in danger by legitimizing a company that has proven to be unscrupulous. Our measure would strengthen the integrity of our banking system by barring Presidents, their families, and other trusted government officials from controlling their own banks while in office.\u201d\n\n\u201cWhile the President and his family accumulate billions of dollars through dubious deals, normal hardworking Americans are struggling just to get by,\u201d said Senator Reed. \u201cThe Trump family appears to be gaming the system to enrich itself at the expense of ordinary taxpayers in ways that could imperil the integrity and soundness of America\u2019s banking system. This bill would clamp down on corruption and restore much needed guardrails.\u201d\n\n\u201cTrump will stop at nothing to use the presidency to enrich himself and those around him. We can\u2019t restore trust in our democracy until we stop these abuses of power. This bill is an important step to building the kind of accountability the American people demand and deserve,\u201d said Senator Kim.\n\n\u201cTrump has proven time and time again his desire to enrich himself while serving as President of the United States. At a time when costs continue to rise and families must make tough financial decisions, this president looks out for himself, not working Americans. This bill makes clear no public officials, including the president, nor their families, should be able to enrich themselves by owning and controlling banks,\u201d said Senator Gallego.\n\nThe Ending Presidential Corruption in Banking Act would:\n\nProhibit the Federal Reserve Board, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation from approving a range of banking applications, including charters, deposit insurance, and master accounts if the applicant is owned or controlled by the President, Vice President, a spouse or child of the President or Vice President, a Member of Congress, a presidentially appointed executive branch official, or a special government employee.\n\nRequire the agencies, no later than 60 days after enactment, to review all banking applications granted after January 20, 2025, and terminate those that were approved while a covered person owned or controlled the applicant.\n\nProhibit the President, Vice President, and a child or spouse of the President or Vice President from owning or controlling a bank.", 1, "2026-08-18T05:27:41Z", "2026-08-18T05:29:06Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.vanhollen.senate.gov/news/press-releases/following-approval-of-trump-crypto-company-bank-application-van-hollen-warren-colleagues-introduce-the-ending-presidential-corruption-in-banking-act"], "units": {}, "query_ms": 1.9048778340220451, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}