Regulator Finds Big Banks Denied Services on Political and Religious Grounds
The Office of the Comptroller of the Currency faulted nine of the largest US banks over debanking policies but imposed no penalties.
By Watchman Report staff ·
The Office of the Comptroller of the Currency issued a report Wednesday finding that some of the largest US banks unfairly denied services to clients on political, religious or other grounds, Reuters reports.
The review covered the nine largest banks by assets. The regulator found each had policies restricting some clients' access to financial services based on subjective criteria rather than financial risk. The OCC stopped short of imposing penalties.
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