Thanks for Banking With Us, Unless We Disagree with Your Politics
A federal review of the nation's biggest banks found some were closing accounts over customers' beliefs, and not one has fully owned up to it.
Could your bank close your account because of what you believe? According to a federal review of the nation's nine largest banks, for some customers the answer was yes.
In August 2025, President Donald Trump issued an executive order directing federal bank regulators to end unlawful debanking activities. Trump wrote, "No American should be denied access to financial services because of their constitutionally or statutorily protected beliefs, affiliations, or political views."
Debanking happens when a bank or other financial service provider restricts access to accounts, loans, or other products based on the customer's political or religious beliefs.
In 2023, Restoration News reported multiple examples of conservative organizations getting debanked by Bank of America. Thankfully, the Trump administration stepped up to demand an end to this discrimination.
In September 2025, the Office of the Comptroller of the Currency (OCC) launched a debanking review of the nine largest national banks. That report looked at activity from January 1, 2020, through September 2025.
What the OCC Report Found
The OCC reviewed nearly 100,000 complaints and over 400,000 pages of bank documents. It found banks using "broad reputation risk" policies that lacked clear standards and objectives. Decisions should instead be based on "measurable, impartial, risk-based standards that the institution adopts in advance."
Here are a few examples of what the report found:
- In February 2021, the payment processor "WePay" closed a merchant account that was selling Make America Great Again merchandise. WePay claimed the seller’s T-shirts promoted hate.
- Citibank refused to do business with lawful firearms retailers or manufacturers who didn't meet the bank's "responsible firearm standards." Examples include limitations on the sale of high-capacity magazines and prohibition of sales to buyers under age 21.
- A bank closed the account of a customer that employees characterized as a "[r]ight wing religious conservative non-profit with strong anti LGBTQ rhetoric."
- Some banks were found to have discriminated against small businesses. One bank wouldn't provide a loan to a small company that sold components for modern sporting rifles. Yet, they gave a letter of credit to a large, multinational firearms manufacturer.
- JPMorgan had multiple instances between 2021 and 2023 of not providing commercial financial services to a politically conservative retailer. Employees flagged the organization as having a risk concern of "negative attention from people with differing/opposing values."
- In 2021, TD Bank refused extending a Paycheck Protection Program (PPP) loan to a nonprofit promoting anti-immigration positions. TD's reason for the denial was "based on public statements about immigrants made by [the organization] or people affiliated with your organization, including social media activity, leading up to and following the November 2020 election."
Why It Matters
The OCC report indicated that after several states enacted "fair access" laws in 2023 and 2024 to address debanking concerns, some banks revised their policies and practices. While there is some indication banks have moved to become more in line with fair access to financial services principles, a concern remains that banks could return to harmful practices in the future. Alarmingly, "no bank has fully and publicly acknowledged its past debanking decisions."
The OCC’s findings show that too many banks let their opinion of a customer’s views, rather than objective measures of risk, decide who has access to financial services. Some have changed course, but with no bank fully acknowledging its past decisions, there is little to stop old habits from returning. Lasting protection will require clear standards, continued oversight, and, where needed, legislation.
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