TD, BMO among nine banks named in U.S. banking discrimination report

A U.S. banking regulator has identified Bank of Montreal and TD Bank, along with seven other lenders, in a report about debanking and limiting access to financial services for certain U.S. customers due to their political beliefs.       

The U.S. Office of the Comptroller of the Currency released a report based on findings from a supervisory review of debanking activities at nine of the largest banks it oversees, based on 100,000 complaints at OCC-regulated institutions.   

The OCC says its review was conducted after an executive order by U.S. President Donald Trump, signed in August of last year, stipulating that Americans should not be denied access to financial services due to religious or political beliefs.  

Jonathan Gould, the comptroller of the currency, says the named banks “denied, debanked and discriminated against customers and lawful businesses.”  

TD did not immediately respond to a request for comment, while BMO referred The Canadian Press to a statement from the Bank Policy Institute.

The institute, a U.S. industry advocacy group, says that it supports fair access to banking services and has been “working to ensure that government regulations and policies enable banks to serve law-abiding customers.” 

This report by The Canadian Press was first published Oct. 14, 2026.   

Companies in this story: (TSX: TD, TSX: BMO)