NR 2025-101 OCC Announces Conditional Approval for Chartering Erebor Bank
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OCC Announces Conditional Approval for Chartering Erebor Bank | OCC
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News Release 2025-101
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October 15, 2025
OCC Announces Conditional Approval for Chartering Erebor Bank
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WASHINGTON—The Office of the Comptroller of the Currency (OCC) announced today that it has conditionally approved the de novo national bank charter application for Erebor Bank, National Association, Columbus, Ohio.
The OCC granted preliminary conditional approval to Erebor Bank after thorough review of its application. In granting this charter, the OCC applied the same rigorous review and standards applied to all charter applications.
“Erebor is the first de novo bank to receive a preliminary conditional approval since I arrived at the OCC. I am committed to a dynamic and diverse federal banking system, and our decision today is a first but important step in living up to that commitment,” said Comptroller of the Currency Jonathan V. Gould. “Today’s decision is also proof that the OCC under my leadership does not impose blanket barriers to banks that want to engage in digital asset activities. Permissible digital asset activities, like any other legally permissible banking activity, have a place in the federal banking system if conducted in a safe and sound manner. The OCC will continue to provide a path for innovative approaches to financial services to ensure a strong, diverse financial system that remains relevant over time.”
The federal banking system includes more than 1,000 national banks, federal savings associations, and federal branches of foreign banking organizations operating in the United States that range in size from 1,000 smaller community banks under $30 billion in assets focused on meeting local needs to the largest internationally active banks. These banking companies conduct a wide array of businesses that range from retail and wholesale banking activity to trust, credit card and other more narrowly focused services. The institutions that make up the federal banking system conduct approximately 67 percent of the banking activity in the United States, hold more than $16 trillion in assets combined and manage more than $85 trillion under their custody and fiduciary control.
Related Link
Conditional Approval Letter for Erebor Bank, National Association (PDF)
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