Morningstar

Wise Group's National Banking Trust Bank Charter Denied by U.S. Regulator

Provided by Dow Jones Jul 24, 2026, 12:03:00 PM

By Nina Kienle

Wise Group said its application for a national trust bank charter was denied by the Office of the Comptroller of the Currency, a primary U.S. banking regulator.

The London-listed payment processor on Friday said it plans to submit a new application that reflects the changes to its business--including those made as a result of OCC feedback--since it applied for the federal license more than a year ago.

"The OCC's letter published today refers to these historical issues with our original application that we have been addressing," Wise said.

The decision doesn't affect normal operations, the company added.

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

July 24, 2026 03:03 ET (07:03 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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