Top U.S. banks dropped customers over political and religious views, regulator says
October 14, 2026 / 4:42 PM EDT / CBS News
TL;DR
- A report by the OCC found that top U.S. banks have closed customer accounts due to political or religious views and business activities.
- The report was initiated in response to a 2025 executive order by President Trump, who claimed banks discriminate against conservatives.
- The OCC reviewed 100,000 complaints and hundreds of bank decisions between 2020 and September 2025.
- Some banks were found to have policies that influenced decisions based on political, religious, or business activities.
- Examples include the defunct payment processor WePay closing accounts of merchants selling MAGA or Trump-related items.
- Banks also restricted businesses involved in industries like oil and gas, coal mining, or firearms.
- Banks maintain policies against discrimination and are working to ensure fair access while managing risk.