The Office of the Comptroller of the Currency (OCC) published a 45-page report titled 'Guaranteeing Fair Banking for All Americans' on October 14. The document alleges that nine major U.S. lenders implemented policies allowing them to restrict or deny financial services based on the political, religious, or social views of customers.
According to the regulator, these institutions utilized broad reputation risk policies that lacked objective criteria. The report highlights instances such as JPMorgan subsidiary WePay closing accounts linked to the Make America Great Again movement, as well as Capital One declining services to abortion rights groups and organizations supporting Democratic candidates.
While the nine banks informed the OCC that they have since revised their internal policies to ensure fair access, the regulator noted that none of the institutions have fully acknowledged past actions or provided sufficient remediation to affected customers. The Consumer Financial Protection Bureau stated it intends to address consumer harm resulting from these practices.
The issue of debanking has been a focus of the current administration, following an executive order signed by President Trump in August 2025. Regulators are now exploring the possibility of imposing financial penalties on banks for these practices, though the legal framework for such enforcement remains under review.
