U.S. banks dropped customers over political views, regulator says
Summary
A U.S. government report found that major banks have closed accounts or refused business to some customers because of their political or religious views and the industries they work in. The report studied complaints made under President Trump’s executive order and showed that both conservative and liberal groups were affected, as well as certain industries like oil, coal, and firearms.Key Facts
- The report was released by the Treasury Department’s Office of the Comptroller of the Currency (OCC).
- It reviewed 100,000 complaints and many bank decisions from 2020 to September 2025.
- Nine large national banks had policies that influenced their decisions based on political, religious, or business activities.
- Some customers selling Trump-related merchandise were dropped by WePay, a payment processor owned by JPMorgan Chase.
- JPMorgan corrected issues found in WePay’s processes and the business no longer operates.
- Banks also restricted services to industries like oil and gas, coal mining, and firearms.
- The Bank Policy Institute said banks support fair access but must manage risks responsibly.
- The OCC emphasized that all Americans should have equal access to financial services regardless of their beliefs or affiliations.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
