Banking on bias: How top U.S. banks silently closed accounts over politics and faith
The Comptroller of the Currency (OCC) investigated the nine largest U.S. banks and found that every single one had policies that led to customers being denied service based on their political, religious or social views.
Banks systematically restricted services to legal industries such as oil and gas, coal mining, firearms manufacturing and even construction of detention facilities, effectively blacklisting entire sectors.
Banks have used unclear and subjective “reputation risk” policies to drop clients whose political views or business activities conflicted with corporate ideology, hiding their true motives.
JPMorgan Chase’s payment processor, WePay, was found to have systematically closed accounts for merchants selling MAGA and Trump-related items, admitting wrongdoing only after federal scrutiny.
The Comptroller of the Currency declared the evidence “irrefutable” and stated that fair access to financial services is a legal mandate, signaling a major political and regulatory crackdown on the practice.
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