OCC Review Finds Banks Cut Off Conservatives Under Biden-Era Policies
A review by the Office of the Comptroller of the Currency found that several large banks denied or limited services to conservatives, religious groups, and lawful businesses during the Biden administration. The report said broad reputation-risk policies lacked clear standards and sometimes relied on the Southern Poverty Law Center to flag customers. Banks including JPMorgan Chase, Bank of America, Citibank, Wells Fargo, and others were examined for policies from 2020 through September 2025.
The OCC’s review followed an executive order directing it to assess whether bank practices discouraged or blocked financial access based on political or religious beliefs or lawful commerce. It covered JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S. Bank, Capital One, PNC, TD, and BMO from 2020 through September 2025.
Investigators examined roughly 100,000 complaints and about 420,000 pages of bank documents. The report described reputation-risk rules without objective criteria, cited reliance on the Southern Poverty Law Center, and noted restrictions affecting energy, firearms, detention, tobacco, e-cigarette, and digital-asset businesses.
The findings could heighten scrutiny of how banks weigh reputational concerns against customer access. Conservatives, religious organizations, and lawful but controversial industries may feel targeted or seek alternative providers, while banks could face pressure to clarify standards and document decisions. This may affect trust in financial institutions and shape future debates over political neutrality, due process, and regulatory oversight. Consumers and businesses across the ideological spectrum could be affected if compliance practices change.