LEXINGTON, KENTUCKY — The Office of the Comptroller of the Currency released a report titled "Guaranteeing Fair Banking for All Americans" on October 14, 2026. Primary source: occ.gov

The OCC conducted a supervisory review of JPMorgan Chase Bank, Bank of America, Citibank, Wells Fargo Bank, U.S. Bank, Capital One, PNC Bank, TD Bank, and BMO Bank. The review was conducted in accordance with Executive Order 14331, "Guaranteeing Fair Access to Banking for All Americans." To prepare the report, the OCC reviewed nearly 100,000 complaints and approximately 420,000 pages of documents from these institutions. Primary source: occ.gov

The OCC found that between 2020 and September 2025, all nine banks had policies that required, encouraged, or influenced the denial or limitation of access to financial services based on political or religious beliefs or lawful business activities. The OCC found that the banks adopted reputation risk policies that allowed political considerations, public opinion, and social pressures to influence decisions on who could access financial services. Primary source: occ.gov

Comptroller of the Currency Jonathan V. Gould spoke at an event in Lexington, Kentucky, hosted by Congressman Andy Barr. "Today’s report provides irrefutable evidence that the nation’s largest banks have denied, debanked and discriminated against customers and lawful businesses," Gould said. He added that "Americans should have access to financial services regardless of their beliefs, affiliations, or political views." Primary sources: occ.gov, occ.gov (2)

The OCC eliminated reputation risk from its supervisory framework. Gould stated that "Fair access to financial services is not a mantra—it is a mandate." He said, "The Trump Administration is committed to ending the weaponization of finance against hardworking Americans, once and for all." He added that "Notwithstanding certain efforts by the largest banks to rein in these practices, I am not confident that they will be enough." He said, "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." Primary source: occ.gov

Many banks maintained policies restricting financing for new or expanded coal mining operations and coal-fired power plants, while some restricted services based on the percentage of revenue derived from coal extraction. Several banks restricted financing for firearms manufacturers and retailers, including one instance where a bank denied assistance with an initial public offering because the company's policies did not align with the bank's standards. Most banks restricted access to financing oil and gas exploration in the Arctic. Primary source: occ.gov

In February 2021, a payment processor owned by one bank closed the account of a merchant that sold merchandise promoting President Trump and the Make America Great Again brand. In February 2023, one bank declined to provide financial services to a public education organization due to its partisan leanings, specifically the organization's political arm's endorsement of solely Democratic candidates. Many institutions also placed restrictions on banking digital asset activities, detention facilities, and providers of tobacco or e-cigarette manufacturing. Primary source: occ.gov