Ripple is strongly opposed by American banks in its bid to establish a trust bank.

The American Community Bankers Association (ICBA), representing about 5,000 local banks, has officially opposed the application to establish Ripple National Trust Bank (RNTB) by Ripple Labs. In a letter sent to the Office of the Comptroller of the Currency (OCC) on August 4, ICBA stated that Ripple's issuance plan for stablecoin RLUSD undermines the traditional role of trust banks while recreating the function of accepting deposits – which is legally restricted.

ICBA warns that this could withdraw capital from the banking system, violate regulatory intentions, and threaten financial stability. The group also emphasizes the risks from digital assets, Ripple's past violations, and demands that the OCC should not grant licenses to RNTB without adequate oversight equivalent to traditional banks.