Banks maintained public or nonpublic policies that restricted access to financial services for certain industries, including digital assets, between 2020 and September 2025. The review covered JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S.
The agency said some institutions limited services for digital-asset issuers, exchanges or administrators, often citing financial-crime concerns. The review also identified restrictions involving oil and gas, coal, firearms and ammunition, detention facilities, tobacco and e-cigarettes.
It said the evidence showed broad reputation-risk policies often lacked clear, measurable and objective risk-based standards, but the agency could not determine the full scale or cost of debanking across the banking system.
The report followed an executive order signed by President Donald Trump in 2025 directing regulators to investigate whether banks had limited services because of political or religious views or lawful business activities. The OCC began its review in September 2025 and issued preliminary findings in December.
Comptroller Jonathan Gould said the agency was considering additional regulatory and supervisory changes after finding that some banks had allowed reputational concerns to influence decisions. Banks remain obligated to assess financial-crime risks, and the review noted that not every documented case proved political discrimination caused a denial of services. JPMorgan said its policies prohibit political and religious discrimination and that it had improved its practices after past incidents.