A new report from the Office of the Comptroller of the Currency (OCC) reveals how several major financial institutions debanked right-leaning individuals and organizations based on their political affiliation.
This was a common practice over the past decade, as leftists used whatever means necessary to attack their political opponents.
From The New York Post:
Major banks closed accounts and refused credit to MAGA merchants, pro-life causes, religious groups, conservative organizations and sectors disfavored by the Biden administration, such as firearms, oil and gas, and private prisons, a bombshell report from the federal banking regulator has found.
The Debanking Review by the Office of the Comptroller of the Currency (OCC) investigated 100,000 complaints and scrutinized 50,000 internal bank records to reveal how customers were “debanked” based purely on their political, social, or religious beliefs.
JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S. Bank, Capital One, PNC, TD Bank, and BMO Bank were found to have discriminated against American consumers, citing “reputation risk” as a reason to deny service between 2020 and 2025.
Negative press, protests, criticism from advocacy groups such as the Southern Poverty Law Center, and reprisals from regulators or politicians were cited as the reputation risks most feared by the banks.
The 47-page OCC report, “Guaranteeing Fair Banking for All Americans,” released Wednesday, found that the nation’s largest banks targeted Christian organizations over abortion, LGBTQ issues, and traditional family values.
The banks also restricted financing for “disfavored” industries such as firearms makers and retailers, Arctic oil and gas, coal, detention facilities, tobacco and e-cigarettes.
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EXCLUSIVE! Debanking report is out. Read how JP Morgan, Wells Fargo and other major banks closed bank accounts and refused credit to MAGA, pro-life groups, conservatives, gun businesses, and other "disfavored" groups based on their political, religious, and social beliefs. Accountability next. https://t.co/z1CPBu1sHd
— Miranda Devine (@mirandadevine) October 14, 2026
Several examples show how leadership at these companies sought to distance itself from organizations associated with the MAGA movement.
Among the examples in the report is JPMorgan Chase’s payment operation, WePay, closing the account of a merchant that sold merchandise promoting President Trump and the Make America Great Again (MAGA) brand, claiming it “promote[d] hate, violence, or racial intolerance.”
The bank’s internal screening system regularly flagged terms such as “MAGA,” “Make America Great,” and “America First” that appeared in merchants’ customer profiles, websites, and transaction information. Several of the terms used to find “violations” were added after the January 6, 2021, Capitol riot.
WePay also closed accounts for a merchant selling “conservative/republican t-shirts, hats, etc.” Merchandise that raised “red flags” included a “Biden-Illegitimate-Tshirt,” “The-Big-Lie-Sticker”, and a “Trump-Won” flag.
A merchant was debanked for processing payments for a planned event after the event organizer posted promotional material on social media that bank employees decided was “an incitement of hate”.
The posts described Black Lives Matter as “Marxists” and called President Biden and Anthony Fauci “the enemy”.
Banks regularly used hate group designations from the Southern Poverty Law Center to debank customers. The SPLC was indicted in April on federal fraud and money-laundering charges, with prosecutors alleging it defrauded donors of millions of dollars. FBI Director Kash Patel has described the non-profit as a “partisan smear machine.”
The OCC’s report noted that “Under the Biden administration, banks could face greater supervisory pressure to move away from lending to the firearms industry.”
Comptroller of the Currency Jonathan V. Gould said the report “provides irrefutable evidence that the nation’s largest banks have denied, debanked and discriminated against customers and lawful businesses.”
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