OCC Report Finds Debanking at Nine Major US Banks

The Office of the Comptroller of the Currency (OCC) has found that nine major US banks restricted access to financial services based on customers’ political or religious views and lawful business activities.

The report, published on October 14, examined close to 100,000 complaints covering decisions made between 2020 and September 2025, and raises fresh questions over how lenders assess reputational risk.

The banks reviewed were JPMorgan Chase, Bank of America, Citibank, Wells Fargo, US Bank, Capital One, PNC, TD Bank and BMO.

According to the OCC’s report, the banks had policies that could influence decisions on political, religious or social grounds on both sides of the US political spectrum, with some restricting services to businesses in sectors including fossil fuels, firearms and digital assets.

Comptroller of the Currency Jonathan Gould said the findings showed that banks had denied services to customers and lawful businesses, adding "Americans should have access to financial services regardless of their beliefs, affiliations or political views." He said the regulator would consider further changes to its supervisory framework to reduce the likelihood of similar practices recurring.

The Consumer Financial Protection Bureau (CFPB) added that it will investigate whether banks identified in the report violated federal consumer protection laws.

In response, JPMorgan Chase — whose former WePay unit is among those cited — said its policies prohibit discrimination based on political or religious views. Many banks have argued that regulatory pressure has encouraged caution in serving certain customers and called for clearer guidance.

While the OCC has yet to impose any fines or sanctions, it signaled it may pursue new rules to curb political or religious bias.