OCC Rejects Wise's Trust Charter Bid; Shares Slide

The OCC denied Wise's application for a national trust bank charter, Reuters reported July 24, 2026. Shares fell sharply. The fintech, which listed on Nasdaq in May 2026 after applying in July 2025, plans to reapply under the GENIUS Act framework. Timeline and outcome remain unknown — a federal banking license isn't granted on appeal alone.