A federal report has uncovered what it calls "irrefutable evidence" that the nine largest U.S. banks have systematically denied, debanked, or discriminated against conservatives, religious organizations, and lawful businesses due to their political beliefs or activities.
The Office of the Comptroller of the Currency (OCC) released its findings in a 47-page report, examining banks like JPMorgan Chase, Bank of America, and Wells Fargo. The investigation, prompted by a 2025 executive order from President Trump, reviewed nearly 100,000 complaints and 420,000 pages of bank documents spanning from 2020 to September 2025.
The report details several cases, including JPMorgan Chase’s former payment processor WePay closing accounts tied to Trump and MAGA merchandise merchants, as well as accounts linked to conservative religious groups. PNC allegedly denied a line of credit to a media company due to its conservative owners' views, while Wells Fargo reportedly pressured a payment processor to debank a religious nonprofit opposing same-sex marriage.
Banks also restricted services to industries like firearms, tobacco, and digital assets. The OCC now considers actions to prevent such discrimination, with Comptroller Jonathan Gould stating that fair access to financial services is a "mandate." JPMorgan Chase defended its policies, claiming it prohibits discrimination based on political or religious views and has improved its practices.