Some of the largest U.S. banks are considering legal action against the Office of the Comptroller of the Currency (OCC) over new rules that make it easier for crypto, fintech, and payment firms to obtain national bank trust charters. The Bank Policy Institute (BPI), which represents lenders including JPMorgan, Goldman Sachs, and Citigroup, argues that the changes could allow lightly regulated companies to offer bank-like services without the same oversight as traditional banks. The OCC’s updated interpretation of federal licensing rules would allow approved firms to operate nationwide under a single charter. Banking groups warn this could blur the definition of what constitutes a bank and potentially increase risks to consumers and the financial system.