ECONOMY08/16/26

Trump Crypto Firm Nears Bank Charter

The OCC conditionally approved World Liberty Financial's national trust bank charter application.

Photo: Fox Business

DIFFERENT FOCUS

Mother Jones emphasized Presidential Conflict of Interest

LEFT FOCUS

▸Mother Jones noted the OCC is led by Trump appointee Jonathan Gould. — Mother Jones
▸Mother Jones framed the approval as Trump's family crypto business moving closer to operating like a bank. — Mother Jones

RIGHT FOCUS

▸Fox Business reported the firm plans to offer digital asset custody services to institutional customers. — Fox Business
▸Fox Business noted World Liberty Trust Company would be based in Bay Harbor Islands, Florida. — Fox Business
▸Washington Examiner reported Democrats are expected to argue the approval raises conflict-of-interest concerns. — Washington Examiner Business

Bank of America $1.2B Treasury Fine

Treasury Department fined Bank of America over $1.2 billion for sanctions and anti-money laundering violations

DEVELOPING TIMELINE

First Report Thursday: The US Treasury fined Bank of America $1.2 billion for anti-money laundering and sanctions violations.

Sunday: Treasury fine now cites Chinese money laundering networks

Left: Third-largest Treasury penalty ever imposed.

Right: Tied to Chinese networks and border criminals.

The US Treasury fined Bank of America $1.2 billion for anti-money laundering and sanctions violations.

Left: Third-largest Treasury fine ever issued.

Right: Violations tied to border crime, China networks.

Inflation rose to 3.7% in September, the last CPI report before midterm elections.

DEVELOPING TIMELINE

First Report Oct 14: Economists expect September consumer prices to rise 0.6% monthly and 3.6% year-over-year, driven by energy costs.

Sunday: September CPI report confirms 3.7% annual inflation rate

Left: Prices hit everyday Americans on essentials.

Right: Rising prices spell trouble for Trump's party.

Trump signs executive order waiving Russia sanctions and tariffs mandated by the Graham Act.

Left: Sanctions targeting Russia's Ukraine war dropped early

Right: Graham Act halted in name of national interest