The Office of the Comptroller of the Currency (OCC) has released the findings of a supervisory review into debanking practices at the nine largest national banks it oversees.
The review covered JPMorgan Chase Bank, Bank of America, Citibank, Wells Fargo Bank, US Bank, Capital One, PNC Bank, TD Bank, and BMO Bank.
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It was conducted under the President’s Executive Order, “Guaranteeing Fair Access to Banking for All Americans”. The OCC examined whether policies or practices had restricted financial services because of customers’ political or religious beliefs, or lawful business activities.
The regulator said all nine banks had maintained relevant policies at some stage between 2020 and September 2025.
US Comptroller of the Currency Jonathan Gould said: “Today’s report provides irrefutable evidence that the nation’s largest banks have denied, debanked and discriminated against customers and lawful businesses.
The OCC said it found “broad reputation risk” policies that lacked specified standards and objective, risk-based criteria.
According to the agency, these policies disadvantaged certain customers due to their political, religious, or social views, or because of lawful commercial activities.
The report also identified public and non-public policies that restricted banking access for certain industries. The sectors cited included oil and gas exploration, coal mining and coal-powered plants, firearms and ammunition manufacturing or distribution, and detention-facility construction or operation.
Other sectors included tobacco and e-cigarette manufacturing, distribution, or online retail, as well as digital asset activities.
As part of the review, the OCC assessed nearly 100,000 complaints relating to OCC-regulated institutions.
It also received around 50,000 documents from the banks, covering approximately 420,000 pages of policies, procedures, practices, and individual customer decisions.
The OCC announced the review of the nine largest banks by assets in September 2025. It issued preliminary findings in December 2025.
The OCC said its work to support fair access to financial services and promote objective, risk-based banking decisions “remains ongoing”.
It is considering additional action concerning discrimination against existing and prospective customers on the grounds of their “political or religious beliefs”, as well as the use of reputation risk in banking decisions.
Comptroller Gould said: “Notwithstanding certain efforts by the largest banks to rein in these practices, I am not confident that they will be enough.
“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.”
