A report from the Treasury Department’s Office of the Comptroller of the Currency (OCC) revealed that top U.S. banks have closed accounts of customers due to their political or religious views, as well as their business activities. Released on October 14, 2026, the report follows an executive order by President Trump in 2025, directing federal regulators to review complaints about banks denying services based on personal beliefs.
The OCC reviewed 100,000 complaints and hundreds of bank decisions between 2020 and September 2025, finding that the nine largest national banks had policies influencing decisions based on political, religious, or business activities. For example, WePay, now defunct and acquired by JPMorgan Chase in 2017, closed accounts of merchants selling MAGA- or Trump-related items. JPMorgan stated that WePay’s processes did not meet its expectations and that the issue has been corrected.
The report also highlighted banks restricting services to businesses in industries like oil and gas exploration, coal mining, or firearms. Citibank and Wells Fargo declined to comment, deferring to the Bank Policy Institute, which emphasized fair access to banking services while maintaining risk management standards.
Comptroller of the Currency Jonathan V. Gould stated, “Americans should have access to financial services regardless of their beliefs, affiliations or political views. Fair access to financial services is not a mantra, it is a mandate.” The report underscores ongoing concerns about discrimination in financial services, affecting both conservative and Democratic-leaning organizations.