US OCC: Nine Major Banks Restricted Digital Asset Firms' Access to Services Citing Reputational Risk

PANews reported on October 15 that, according to an official press release from the U.S. Office of the Comptroller of the Currency (OCC), the OCC released a "debanking" review report on the nine largest national banks under its supervision, finding that JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, U.S. Bank, Capital One, PNC, TD Bank and BMO all had policies between 2020 and September 2025 that could deny or restrict services based on political or religious views or lawful business activities. Restricted industries included digital asset activities, as well as oil and gas, coal, firearms and ammunition, detention facilities and tobacco. The OCC reviewed nearly 100,000 complaints and about 420,000 pages of documents. OCC head Jonathan Gould said he has "no confidence" that the banks' recent remediation is sufficient, and the OCC will evaluate further adjustments to the supervisory framework for large banks.