United States of America

US Government: Top 9 Banks Debanked Customers Over Politics and Beliefs

Is this political discrimination demanding enforceable rules or the messy result of murky regulations?

3 hours ago·Updated 1 hour ago

US Government: Top 9 Banks Debanked Customers Over Politics and Beliefs

Story

Above: Skyline of the Financial District of Lower Manhattan in New York City on Aug. 5. Image credit: Marcin Golba/NurPhoto/Getty Images

The Facts

The U.S. Office of the Comptroller of the Currency (OCC) published a report on Wednesday concluding that the nine largest banks it supervises imposed policies from 2020 to September 2025 that limited access to financial services based on political, religious or business activities.
Office of the Comptroller of the Currency
Axios
Fox Business
Comptroller of the Currency Jonathan Gould said the 47-page report provides "irrefutable evidence" that the nation's largest banks denied and discriminated against customers. Officials, however, could not determine how widespread the practice was.
Office of the Comptroller of the Currency
Office of the Comptroller of the Currency
In total, the OCC reviewed nearly 100,000 complaints and roughly 420,000 pages of bank records, allegedly finding policies that restricted services to sectors including oil and gas exploration, coal mining, firearms production, detention facilities and tobacco retailers.
Office of the Comptroller of the Currency
Office of the Comptroller of the Currency
For example, the report cited WePay, a payment processor JPMorgan Chase acquired in 2017, which closed accounts of merchants selling Trump- and MAGA-related items. JPMorgan said the unit's process "did not meet our expectations" and that the business no longer operates.
Office of the Comptroller of the Currency
CBS News
New York Post
It also claimed that groups across the political spectrum were affected, with one bank in February 2023 refusing services to a public education organization whose political arm endorsed only Democrats, and Capital One declining business with an abortion rights group.
Office of the Comptroller of the Currency
The review followed Executive Order 14331, signed Aug. 7, 2025, which stipulated that no American should be denied financial services over protected beliefs. The Consumer Financial Protection Bureau has confirmed it is investigating the banks named in the report.
The White House
Office of the Comptroller of the Currency
Consumer Financial Protection Bureau

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The Spin

Pro-government narrative

Cutting off banking because a customer's politics or faith makes some executive uncomfortable is discrimination. Vague reputation risk standards have given the biggest banks cover to squeeze gun makers, churches and conservatives while bending the rules for wealthy clients. This affront demands hard, enforceable standards to ensure fair access for all Americans.

Office of the Comptroller of the Currency

Pro-industry narrative

Banks make money by serving customers, so turning away law-abiding business for non-legal reasons makes no sense. Years of murky supervisory pressure and clashing state rules drove the closures, not political resentments. If the government wants to address this, it must enshrine a clear federal standard and allow risk-bearing institutions to make risk-based judgments.