Trump Family's World Liberty Gets Preliminary Bank OK
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- World Liberty Financial, the Trump family's crypto business, received preliminary regulatory approval to establish a bank, with the development covered by CNN, CBS News, and the Wall Street Journal.
- Lawmakers and government watchdogs condemned the ruling as a "brazen act of self-dealing," noting that Trump-appointed regulators had cleared a Trump family firm to enter the banking industry.
Why it matters: With Trump-appointed regulators approving a bank charter for the president's own family's crypto venture, watchdogs flag a textbook conflict of interest that critics say erodes the independence of financial regulators and sets a precedent for politically connected firms gaining access to banking.
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