U.S. Representative Urges Halt on WLFI Bank Charter Amid UAE Ties Investigation

U.S. Representative Meeks has called on Treasury Secretary Scott Bessent to suspend the bank charter approval process for WorldLibertyFinancial (WLFI) until an investigation into its links with the United Arab Emirates (UAE) is completed. According to NS3.AI, this request comes in the wake of a $500 million investment from the UAE royal family into WLFI, raising concerns about the financial institution's international affiliations. The situation is further complicated by recent U.S. approvals for Nvidia AI chip sales to the UAE, which have drawn attention to the growing economic ties between the two nations. Despite these developments, the Office of the Comptroller of the Currency (OCC) has previously rejected a senator's request for a special investigation into WLFI's chartering process, leaving the matter unresolved.