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(Sharecast News) - Peel Hunt reiterated its 900p price target and 'hold' rating on Wise after the US Office of the Comptroller of the Currency rejected the fintech giant's application for a national trust bank charter, saying the decision reflected historical compliance issues rather than the group's current operating position.
Peel Hunt noted that the OCC's concerns related to Wise's original submission, with the company highlighting that its US compliance framework has been significantly strengthened since a July 2025 multistate consent order.
Improvements include enhanced investigation and reporting processes, better customerdata integrity, increased compliance resourcing and further investment in financialcrime controls.
Peel Hunt highlighted that the ruling has no impact on Wise's existing US operations, which continue under moneytransmitter licences in 48 states and four territories, alongside more than 80 licences globally. Wise plans to submit a fresh application that reflects its current compliance maturity.
Reporting by Iain Gilbert at Sharecast.com
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