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‘Brazen act of self-dealing.’ Lawmakers, watchdogs alarmed after Trump regulators let Trump firm start a bank
Summary by The El Paso Editorial Desk CNN Newsource , as published by KVIA ABC-7
· August 17, 2026
· 1 min read
Photo: KVIA ABC-7 · view original
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Summary created by The El Paso Editorial Desk — automated, rule-governed Byline on source page CNN Newsource, as published by KVIA ABC-7 Original story Read at the source Source published Aug 17, 2026 Indexed here Aug 17, 2026 AI assistance Automated summary drawn from the source’s own published text Prepublication human review No — editorial rules, flagged-item review, and published samples
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Key points The firm, World Liberty Financial, was launched by Trump and his sons. Regulators appointed by President Donald Trump have given preliminary approval to a cryptocurrency firm linked to the Trump family to become a bank.
Regulators appointed by President Donald Trump have given preliminary approval to a cryptocurrency firm linked to the Trump family to become a bank. The firm, World Liberty Financial, was launched by Trump and his sons.
This move has raised concerns among ethics watchdogs and some lawmakers. The firm has received conditional approval to become a trust bank, although final approval depends on certain conditions being met.
Further details on this development are available from the source, including the implications of this approval for World Liberty Financial's operations and the concerns it has raised.
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Category: local Published: August 17, 2026 Source: KVIA ABC-7 Reading time: 1 min
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What is this story about? Regulators appointed by President Donald Trump have given preliminary approval to a cryptocurrency firm linked to the Trump family to become a bank. The firm, World Liberty Financial, was launched by…
When was this published? This article was first published on August 17, 2026 by KVIA ABC-7 and curated for The El Paso readers.
Who reported this story? This story was reported by CNN Newsource at KVIA ABC-7. To learn more about how The El Paso selects and reviews stories, see our editorial standards .
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