The Office of the Comptroller of the Currency (OCC) has issued a stern warning to major U.S. banks regarding 'debanking' practices, labeling them as 'unlawful.' This follows an executive order by President Donald Trump in August, which targeted the exclusion of controversial industries, such as digital assets, from banking services. The OCC's report highlights that from 2020 to 2023, nine major national banks implemented policies restricting access to certain sectors, including cryptocurrency firms. The regulator has indicated it may refer these cases to the attorney general for potential disciplinary action.
U.S. OCC Warns Banks on 'Debanking' Practices, Cites Unlawfulness
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