A federal review of nine major U.S. banks has raised concerns about policies that could restrict financial services because of customers’ religious beliefs, political affiliations, or lawful business activities. The findings drew coverage on October 16, following the report’s release earlier that week.
The Office of the Comptroller of the Currency, which supervises national banks and federal savings associations, examined practices in place between 2020 and September 2025. The agency said all nine banks maintained policies that could require, encourage, or influence decisions to deny or limit services on those grounds.
The review identified two broad areas of concern: restrictions intended to manage reputational risk and policies limiting services to particular industries for reasons unrelated to financial or operational considerations.
According to the OCC, reputational risk generally concerns the potential economic or brand consequences of negative public perceptions associated with a customer. Decision Magazine’s October 16 account of the report described examples involving religious organizations whose beliefs or affiliations contributed to decisions about financial services.
The findings extended beyond religious customers. The OCC also cited a bank’s refusal to serve an organization because its political arm endorsed only Democratic candidates, alongside restrictions affecting other lawful activities and industries.
The banks reviewed were JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S. Bank, Capital One, PNC Bank, TD Bank, and BMO Bank.
The OCC conducted the review under an August 2025 executive order addressing fair access to banking. The agency outlined measures it has taken or is considering, including changes to supervision, complaint procedures, and account-closure transparency.
The report concerns historical policies and specific examples. Its findings should not be interpreted as establishing that every account closure or refusal of service by the reviewed banks involved discrimination.
References
occ.treas/topics/charters-and-licensing/fair-banking/index-guaranteeing-fair-banking.html
billygraham/decision-magazine/articles/large-banks-debanked-discriminated-against-customers-for-religious-views-report
