Business & Finance
Treasury regulator says nine largest banks used reputation-risk policies lacking clear standards
A Treasury regulator's report says some of the largest U.S. banks let political considerations shape who received banking services.
The short version
- A Treasury regulator's report found some of the nation's largest banks let political views, public pressure, and social concerns shape who received banking services.[CNBC]
- The Comptroller of the Currency reviewed the nine largest national banks it supervises and found all nine used reputation-risk policies lacking clear criteria that could disadvantage customers.[CNBC]
- The report cites restrictions on businesses in oil and gas exploration, coal mining, and firearms, and finds some banks also refused Democratic-leaning organizations.[CBS News]
- The findings echo President Donald Trump's long-running claims of anti-conservative bias, which banks have denied and which the reporting does not resolve for individual accounts.[CNBC]
Key facts
- The OCC reviewed the nine largest national banks it supervises, examining nearly 100,000 complaints and about 420,000 pages of documents.[CNBC]
- The OCC found all nine banks used reputation-risk policies lacking clear, objective standards that could disadvantage customers over political or religious views or lawful business activities.[CNBC]
- The OCC said the report followed President Trump's 2025 executive order requiring federal banking regulators to review complaints about businesses declined over their views.[CBS News]
- The OCC found that some banks also refused to do business with Democratic-leaning organizations.[CBS News]
- Comptroller of the Currency Jonathan V. Gould said fair access to financial services is a mandate regardless of political views.[CBS News]
- According to the OCC, the payment processor WePay closed accounts of several merchants selling MAGA- or Trump-related items; JPMorgan said WePay's practices were corrected and the business no longer operates.[CBS News]
- Trump has repeatedly accused major banks of discriminating against conservatives and says he was debanked after the January 6, 2021, Capitol insurrection; banks have denied these claims.[CNBC]
What remains uncertain
- The reporting does not establish that each of the nine banks made politically influenced decisions about specific accounts; the policy findings are distinct from individual decisions.[CNBC · CBS News]
- Trump's accusations of debanking and anti-conservative bias remain disputed, with banks denying the claims.[CNBC]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.