Wise Group PLC (WISEa.L): US Trust Bank Charter Application Denied by OCC

Research evidence excerpt

Wise Group PLC (WISEa.L): US Trust Bank Charter Application Denied by OCC

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24 Jul 2026 00:00:00 ET │ 10 pages

Wise Group PLC (WISEa.L)

US Trust Bank Charter Application Denied by OCC

CITI'S TAKE

Sell The OCC denied Wise's US national trust bank charter application. While

the impact on existing operations is limited, as Wise continues to operate Price (23 Jul 26 16:30) £9.05

under its existing money-transmitter licenses, the decision is a setback to Target price £7.60

the strategic benefits a trust bank charter could have provided, including Expected share price return -16.0%

more direct access to US payment rails. The outcome may come as a Expected dividend yield 0.0%

surprise to some investors given previous expectations that the Expected total return -16.0%

application process was progressing constructively. We also expect the

Market Cap £9,278M OCC's comments on AML and governance to keep investor focus on Wise's

US$12,354M compliance framework, albeit Wise flagged that the comments refer to

historical issues that have since been addressed. Wise plans to submit a

new application under the recently enacted GENIUS Act framework.

Pavan Daswani, CFAAC

OCC Denies Wise’s US Trust Bank license — Wise submitted a national trust bank +44-20-7986-6889

charter application in the US in June 2025. The OCC yesterday denied the pavan.daswani@citi.com

application, citing AML/CFT and governance, including issues highlighted in the July Balajee Tirupati, CFA

2025 Multi-State Consent Order (OCC). Wise responded that the decision largely

reflects historical issues and that substantial compliance enhancements have since

been implemented, including strengthened US compliance resources, improved

investigative and reporting processes, and enhanced customer-data integrity

controls.