Core Viewpoint - The Comptroller of the Currency, Jonathan Gould, defends the recent influx of trust charter applications from big tech companies, asserting that it does not alter the original purpose of the charter and emphasizes the importance of competition and innovation in the banking sector [1][6]. Group 1: Trust Charter Applications - The OCC has seen a significant decline in new bank applications, dropping from over 100 per year in the 1990s to approximately four annually from 2011 to 2024, indicating a restrictive regulatory environment [4]. - In 2023, the OCC received 14 new bank charters, including applications from major crypto firms such as Coinbase, Circle, Ripple, and Paxos, signaling a shift towards a more dynamic banking landscape [5][6]. - Gould argues that the recent wave of applications is a positive development for the banking industry, promoting healthy competition and innovation [6]. Group 2: Regulatory Perspective - Gould states that national trust banks have historically been allowed to perform non-fiduciary functions, including custody and safekeeping services, and that digital assets should not be treated differently [2][3]. - The OCC's current approach is rooted in interpretive letter 1176 from 2021, which clarified that trust banks could engage in non-fiduciary activities, a stance that Gould defends against claims of expanding the charter's scope [6]. - Community bank advocates argue that the 2021 letter opened the door to non-fiduciary activities that they believe were not explicitly authorized by Congress, suggesting a need for a reevaluation of the charter's purpose [7][8].