A new report finds that nine American banks had policies or practices that limited access to financial services to Americans based on their political or religious beliefs, or lawful business activities.
The report from the Office of the Comptroller of the Currency found that all nine of the largest banks in the country, JPMorgan Chase Bank, Bank of America, Citibank, Wells Fargo Bank, U.S. Bank, Capital One, PNC Bank, TD Bank, and BMO Bank, had such policies between 2020 and September 2025. The review of debanking activities was carried out as part of President Donald Trump’s Executive Order “Guaranteeing Fair Access to Banking for All Americans.
“Today’s report provides irrefutable evidence that the nation’s largest banks have denied, debanked and discriminated against customers and lawful businesses,” Comptroller of the Currency Jonathan V. Gould said. “Americans should have access to financial services regardless of their beliefs, affiliations, or political views. Fair access to financial services is not a mantra—it is a mandate. The Trump Administration is committed to ending the weaponization of finance against hardworking Americans, once and for all.”
OCC found that broad reputation risk policies disadvantaged certain Americans based on their political, religious or social views, or based on their lawful business activities. Those policies lacked clear standards or objective, risk-based criteria, the report said. Also, the OCC said banks maintained public and nonpublic policies restricting certain industry sectors’ access to financial services, including those in oil and gas exploration; coal mining or coal-powered plants; firearms or ammunition manufacturing or distribution; construction of or operation of detention facilities; the manufacturing, distribution or online retail of tobacco or e-cigarettes; and digital asset activities.
The review looked at nearly 100,000 complaints to OCC-regulated institutions and received an estimated 50,000 documents consisting of 420,000 pages from the banks regarding their policies, procedures, practices and individual customer decisions.
The review began in September 2025, with findings issued in December 2025. The commission said its latest report addresses debanking and promotes fair access.
“Notwithstanding certain efforts by the largest banks to rein in these practices, I am not confident that they will be enough,” Gould said. “Accordingly, the OCC will be assessing further changes to the regulatory and supervisory framework applicable to the largest banks to reduce the likelihood of these harmful practices recurring in the future.”