Overview
- Rep. Gregory Meeks and more than 40 House Democrats asked Treasury Secretary Scott Bessent to open or coordinate an investigation into World Liberty Financial over conflict-of-interest and national security risks.
- The letter cites reports of a roughly $500 million stake tied to Abu Dhabi’s Sheikh Tahnoon bin Zayed Al Nahyan and raises concerns about foreign leverage over U.S. financial infrastructure.
- Democrats requested clarity on any roles played by the White House, the Office of Management and Budget, and Treasury in OCC charter decisions, with a reply due by Feb. 26.
- The request comes as the OCC continues its independent review of the firm’s national bank or trust charter application, a posture Bessent underscored in earlier testimony.
- World Liberty Financial continued public promotion this week with a Mar-a-Lago forum where Donald Trump Jr. and Eric Trump touted the company’s stablecoin and criticized traditional banking.