OCC Report Finds Large Banks Denied Services Based on Politics

The Office of the Comptroller of the Currency issued a report Wednesday finding that several of the largest U.S. banks unfairly denied services to clients based on political, religious, or other subjective grounds. The review examined nine of the nation's largest national banks to determine if they used objective, risk-based criteria when assessing reputational risks.

Launched in September 2025 following an executive order by President Donald Trump, the investigation concluded that lenders lacked objective standards for these denials. While the regulator chastised the banks, it did not impose immediate fines or penalties, though it indicated it may consider future policy changes.

Banks have denied rejecting customers for political or religious reasons, instead attributing their actions to regulatory pressure. The findings emerge amid a broader conflict in Washington, where President Trump has filed a $5 billion lawsuit against JPMorgan Chase and CEO Jamie Dimon, alleging his accounts were closed for political reasons. He previously accused Bank of America of similar debanking practices in early 2025.