# Banks Push for Risk Tests on Nonbank Stablecoin Apps

> Banks demand nonbank stablecoin issuers prove stronger risk controls before licensing.
- Title: Banks Push for Risk Tests on Nonbank Stablecoin Apps · Pymnts
- Summary: Banks demand nonbank stablecoin issuers prove stronger risk controls before licensing. Bank groups want regulators test nonbank stablecoin applicants on…
- Keywords: occ, stablecoin, banking, risk controls, nonbank, genius act, payment stablecoins, business, finance, Banks, Push, Risk
- Source: Pymnts — https://pymnts.com/cryptocurrency/2026/banks-want-risk-controls-tested-nonbank-stablecoin-issuers
- Author: PYMNTS
- Published: 2026-09-29T15:45:24+00:00
- Read time: 1 min
- Topics: occ, stablecoin, banking, risk controls, nonbank, genius act, payment stablecoins, business, finance
## Banks Request Enhanced Risk Tests
Banks want nonbank stablecoin applicants tested on governance, cybersecurity and other risk controls before licensing.

> For example, the OCC should require a non-IDI applicant to demonstrate the adequacy of its governance, risk management procedures, operational resilience, cybersecurity practices and recovery planning
## Bank Groups Push for Public Comment
Bank groups want stablecoin issuer applications opened to public comment and foreign issuers to face home-country capital requirements.

> The banks have also contended that foreign payment stablecoin issuers should face home-country capital requirements consistent with those applied to domestic issuers
## First Comment Period Closes
The first comment period on the OCC’s proposed application forms for payment stablecoin issuers closed Friday (Sept. 25).
## Second Comment Period Coming
A second 30-day comment period will give the industry another chance to respond to bank groups’ requests.
## Bank Groups Explain Why
Bank groups say nonbank applicants may not be subject to the same federal prudential framework as insured depository institutions.

> Nonbank applicants "may not be subject to the same robust federal prudential framework to which every IDI is subject"
## Stablecoin Risk Focus
Banks want stablecoin issuers to demonstrate compliance with consumer protection laws and regular examinations.

> The letter said the goal should be to preserve stablecoins for "payments and settlements" while avoiding "undue and unnecessary risks" to stablecoin holders and users
## Key takeaway

Bank groups want regulators test nonbank stablecoin applicants on governance, cybersecurity and compliance before issuing stablecoins.