People pass by a sign for JPMorgan Chase at its headquarters in Manhattan, N.Y., in this file photo. Spencer Platt/Getty Images
Nine of the largest banks have been found to engage in debanking activities, according to preliminary findings in a Dec. 10 review report published by the Office of the Comptroller of the Currency (OCC).
The report follows the banking regulator’s implementation of President Donald Trump’s Executive Order 14331, “Guaranteeing Fair Banking For All Americans,” which said that financial institutions have been engaging in practices that restrict law-abiding individuals and businesses from services on the basis of political or religious beliefs. The order was issued on Aug. 7.
