Nine Large US Banks Engaged in Debanking Practices, OCC Says (1)

Nine large US lenders made “inappropriate distinctions” among certain customers, the Office of the Comptroller of the Currency said Wednesday, a finding that falls in line with President Donald Trump’s calls to rein in what he sees as the practice of debanking.

Between 2020 and 2023, the OCC found that the lenders — JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc., Wells Fargo & Co., U.S. Bancorp, Capital One Financial Corp., PNC Financial Services Group Inc., Toronto-Dominion Bank, and Bank of Montreal — maintained policies that restricted access to ...