The Office of the Comptroller of the Currency (OCC) announced preliminary findings from its supervisory review of purported debanking activities by nine large banks. The findings claim that, between 2020 and 2023, these banks made inappropriate distinctions among financial-services customers on the basis of lawful business activities, such as oil, gas, and coal operations.
The OCC suggested that it will continue to explore “the full extent and effect of these actions and their impact on affected industries and the American economy.”