Regulators say major banks sometimes denied accounts to certain political, religious and industry groups
A recent Office of the Comptroller of the Currency report reviewed 100,000 complaints and account decisions from 2020 through September 2025 and found that all nine supervised national banks applied criteria that sometimes excluded conservatives, Democrats and businesses tied to oil, coal, firearms and other sectors. The report cites examples such as merchants selling MAGA‑related merchandise through the WePay platform and some cryptocurrency investors whose accounts were closed.
In several instances, banks said reputation risk was a factor in the decision. The findings have sparked calls for further oversight of how banks assess customers based on political, religious or industry affiliations.
How this was covered
- Left-leaning outlets covered this 9h later
- Right-leaning coverage is the most divided on this story
Why it matters
It raises concerns that people and businesses may face obstacles in accessing basic banking services.
How the sides frame it
MODERATE AGREEMENTLeft-leaning and centrist coverage present the regulator’s report as a factual finding that major banks denied services based on political, religious, or lawful business reasons, while right-leaning coverage frames the same findings as evidence of a cancel-culture attack on conservatives and calls for legislative action.
LEFT
The regulator’s report documents banks denying services over politics, religion, and certain industries, highlighting impacts on conservatives and other groups.
CENTER
The OCC report finds that nine large banks applied policies that restricted financial services based on customers’ political or religious beliefs or lawful business activities.
RIGHT
The investigation reveals a cancel-culture war in which big banks cut off conservatives, Christian groups, and other “disfavored” entities, prompting calls to end political debanking.
The left emphasises
- banks denied services over politics, religion, and industries like oil, coal, firearms
- conservatives, Democrats, and various business groups were affected
The right emphasises
- banks waged a cancel-culture war against conservatives and Christian groups
- Congress should end political debanking and make protections permanent
How this story developed
- Oct 14 Major banks accused of denying services to conservative and disfavored groups
- Oct 18 The OCC report detailing the banks’ criteria has been released.
