The Office of the Comptroller of the Currency said nine of the largest banks in the United States maintained policies between 2020 and September 2025 that denied or limited services for some lawful customers based on political or religious beliefs, as well as involvement in certain legal businesses.
The regulator said its review found broad reputation-risk policies without clear standards, which it says disadvantaged customers over political, religious, or social views. The OCC also said the banks applied restrictions to entire sectors, including digital assets.
Banks named in the OCC review
The OCC identified JPMorgan Chase Bank, Bank of America, Citibank, Wells Fargo Bank, U.S. Bank, Capital One, PNC Bank, TD Bank and BMO Bank. According to the agency, all nine had such policies in place during the period it examined, from 2020 through September 2025.
The finding centers on how the banks handled account access and other financial services for lawful customers and businesses. The regulator said the issue was not limited to one industry or one type of customer, but extended across multiple categories it reviewed.
Policies tied to reputation risk and sector limits
In the report, the OCC said vague reputation-risk frameworks were used without clear standards, creating room for customers to be treated differently because of their political, religious, or social positions. The agency described that as a factor behind debanking and service restrictions.
The regulator also said the banks placed limits on entire lines of business. The sectors named by the OCC include oil and gas exploration, coal mining, firearms, detention facilities, tobacco, and digital assets.
Examples cited by the regulator
The OCC included specific cases to illustrate how such policies were applied. In one example, a bank-owned payment processor shut the account of a merchant selling Make America Great Again merchandise in February 2021.
In another case, the regulator said a bank declined to serve a public education organization whose political arm endorsed only Democratic candidates. The report presented those incidents as examples of lawful customers being turned away or restricted.
Scope of the review and what may come next
To support its findings, the OCC said it reviewed nearly 100,000 complaints as well as about 50,000 documents provided by the banks, amounting to roughly 420,000 pages.
Comptroller of the Currency Jonathan V. Gould said the report provides what he called irrefutable evidence that major banks denied, debanked, and discriminated against customers and lawful businesses. He also said that, despite some efforts by large banks to curb the practices, he is not confident those steps will be sufficient.
The OCC said it is now considering further changes to the regulatory and supervisory framework for the largest banks in an effort to reduce the chance that similar practices recur. That potential policy response is the next confirmed step identified in the report.
Source: dailyhodl.com