The OCC report, issued under President Donald Trump's 'Guaranteeing Fair Banking for All Americans' order, identified the crypto, firearms, and fossil fuel sectors as the most targeted. Victims spanned the political spectrum, ranging from businesses selling MAGA merchandise to entities contributing to Democratic candidates. Treasury Secretary Scott Bessent stated that this Treasury Department will ensure fair access to banking regardless of ideology, while the regulator evaluates new rules to curb subjective risk judgments.
Tuesday, October 20, 2026
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OCC Ends Reputation Risk Supervision After 9 Banks Debanked Customers
US Politics6 days ago
The federal government has banned the use of subjective 'reputation' assessments to disqualify customers from the banking system after a wide-scale purge of accounts based on political views. A review of 100,000 complaints by the Office of the Comptroller of the Currency found that 9 large lenders—including JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S. Bank, Capital One, PNC, TD Bank and BMO—systematically denied services between 2020 and September 2025 to individuals and businesses with disfavored religious or social beliefs.
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