Regulatory Alerts2026-07-21 | Corporate Decision 1381Added
Corporate Decision 1381 — Denial of Application to Charter Wise National Trust
The Office of the Comptroller of the Currency (OCC) denies the application to charter Wise National Trust, a proposed national trust bank in Austin, Texas, sponsored by Wise US Holdings. The denial is based on significant supervisory and compliance concerns, specifically the applicant's failure to demonstrate an effective Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) compliance program and sufficient familiarity with national banking laws. The OCC cites a recent Multistate Consent Order against sponsor Wise US Inc. for AML/CFT deficiencies, including an administrative penalty of $4.2 million, and notes the lack of experienced management regarding fiduciary activities and AML/CFT risks. The decision does not prohibit filing a new charter application in the future.