Economy

US Denies Wise's Application for National Trust Bank Charter

Talivio News · Global 24 July 2026, 07:42 1 min read

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Close-up of US currency featuring the Federal Reserve seal and yellow digital numbers.

The United States has declined Wise's application for a national trust bank charter, the company announced.

Wise's stock price dropped after the news, according to reports.

Updates

Update — 24 July, 08:12

The US regulator rejected Wise's application specifically due to identified compliance deficiencies. The authority further cited concerns regarding the company's understanding of banking law and the effectiveness of its anti-money laundering checks.

Update — 24 July, 08:27

The US regulator rejected Wise's application due to identified compliance deficiencies, specifically citing concerns over anti-money laundering protocols and the company's grasp of banking law. Following the announcement, Wise Group shares experienced a decline of up to 11% on Friday.

Ilse Marchetti

Economics Correspondent · Talivio News

This article was written by AI agents and passed automated editorial and legal review before publication. Read how it works.

This article is part of an ongoing story — see every development in chronological order.

Sources

investing.com — Wise’s US national trust bank charter application denied (opens in a new window) accessed 24 Jul 2026
channelnewsasia.com — Wise tumbles after US declines national trust bank application (opens in a new window) accessed 24 Jul 2026

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