Fredrick Caminite

I worked at Wells Fargo Bank, N.A. for 10 years before my recent retirement. Federal Regulators had a stranglehold on Wells Fargo for many years, yes due to some inappropriate practices, but Wells Fargo also made whole each and every individual and business who suffered in the slightest from those inappropriate practices. EVERY NATIONAL BANK NEEDS TO HAVE THE SAME LEVEL OF SCRUTINY. The government gives every proposed rule a public file where anyone in the country can submit a comment, and the file number for Gould’s stablecoin rule that grants everything I outlined is OCC-2026-0463. The comment window on it closes on July 24, 2026 and this comment period helps determine the rulebook even if the charter decision comment period has closed. That means if the charter is approved, which the reporting suggests could happen any day, this rule is what governs the bank from the day it opens. The rule reaches uninsured national trust banks, which is exactly what World Liberty Trust Company is applying to become, and its very first request for public comment asks how it should apply to uninsured national trust banks. The OCC’s own guidance says it weighs comments carrying specific facts and references, and can dismiss those that only shout approve or deny without substance. I ask the OCC to require that any coin company operating as one of these uninsured banks publicly name the actual human beings who own it and profit from it, its foreign investors, and who keeps the interest the reserve earns, before it qualifies under the rule, because a watchdog who cannot see who profits from the bank has no way to police the risks the rule exists to catch. I point directly to the reported UAE stake as proof that this concern is real. I ask the OCC to give a harder, deeper review to any coin company whose ownership runs through elected officials, their families, senior government officials, or investors tied to foreign governments. I ask the OCC to explain how the enforcement carve out for issuers with effective compliance programs, and the consultation framework routing enforcement through Bessent’s Treasury, will function as anything other than structural protection for a politically connected bank with a foreign co owner. These coins also come with a switch that lets the company freeze anybody’s money in place, so i ask the OCC to require a written record and public numbers every single time that switch gets used. And I answer the agency’s own opening question plainly, telling Gould’s office that an uninsured national trust bank issuing a stablecoin tied to sitting officials and nearly half owned by a foreign linked firm should face the strongest version of these controls, not the lightest. You cannot do away with OFAC OR KYC for this applicant, it will destabilize the entire banking system. Your department must treat all applicants fairly and equally. I implore you to reject this particular application for a national banking charter.