Trump's week in review: $490M in tax fraud uncovered; USCIS to speed up termination of refugee status

3. OCC report says big banks debanked conservative, religious orgs.

The Office of the Comptroller of the Currency (OCC), which regulates national banks, released a report this week reviewing the nine largest U.S. banks. The review is part of the effort to implement Trump’s executive order Guaranteeing Fair Banking for All Americans.

The executive order states, in part, “It is the policy of the United States that no American should be denied access to financial services because of their constitutionally or statutorily protected beliefs, affiliations, or political views, and to ensure that politicized or unlawful debanking is not used as a tool to inhibit such beliefs, affiliations, or political views.”

The review examined “whether bank policies or practices may have required, encouraged, or otherwise influenced banks to deny or limit access to financial services to Americans because of their political or religious beliefs or affiliations or their lawful business activities.” It covered bank activity from 2020 through September 2025.

The report cited multiple examples of financial institutions taking adverse actions against customers because of their religious or political beliefs, several involving WePay, a payment processor owned by JPMorgan Chase.

According to the report, “In February 2021, WePay closed the account of a merchant that sold merchandise promoting President Trump and the Make America Great Again (MAGA) brand” over concerns that its merchandise “promote[d] hate, violence, or racial intolerance.”

Other examples included WePay’s June 2021 closure of the account of a customer it designated as a “[r]ight wing religious conservative non profit with strong anti LGBTQ rhetoric” and its July 2021 closure of an account raising funds for a “devout Christian” targeted by certain anti-discrimination laws.

The report also cited Bank of America’s decision to stop lending to detention centers and private prisons and Citibank’s refusal to extend a line of credit to an energy company because it used coal-fired power.