Thread regarding Wells Fargo & Co. layoffs

US regulator accuses nation's largest banks of debanking customers over political views

The head of the Office of the Comptroller of the Currency (OCC) declared Wednesday that his agency uncovered "irrefutable evidence that the nation's largest banks have denied, debanked and discriminated against customers and lawful businesses," including over political views.

Comptroller of the Currency Jonathan Gould made the remark after the OCC said it investigated debanking activities at the nine largest banks it supervises: JPMorgan Chase Bank, Bank of America, Citibank, Wells Fargo Bank, U.S. Bank, Capital One, PNC Bank, TD Bank and BMO Bank. The practice of debanking is the denial, restriction or closure of an individual’s or organization’s access to banking services.

The 47-page OCC report found that in February 2021, under the Biden administration, "a payment processor owned by one bank closed the account of a merchant that sold merchandise promoting President Trump and the Make America Great Again (MAGA) brand." And two years later, "one bank declined to provide financial services to a public education organization due to its partisan leanings — namely, the organization’s political arm’s endorsement of solely Democratic candidates."

https://www.foxbusiness.com/politics/us-regulator-accuses-nations-largest-banks-debanking-customers-over-political-views


by
| 71 views | | 5 replies (last 24 days ago) | Reply
Post ID: @OP+1m50r8a33

5 replies (most recent on top)

If its good enough for the government its good enough for the private sector.

by
| | Reply
Post ID: @qy+1m50r8a33

@ar+1m50r8a33

Savage projection.

by
| | Reply
Post ID: @eb+1m50r8a33

lol...accounts are frequently closed against the accountholder's will

by
| | Reply
Post ID: @da+1m50r8a33

Sounds like it should be pretty cut and dried either way. There will, or won't, be a very clear paper trail of a bunch of people getting their accounts closed against their will, which is something that banks virtually never do. Te------ts worldwide have access to many of these banks so if they're tossing out MAGA types then thats obviously a problem.

by
| | Reply
Post ID: @d2+1m50r8a33
  • First they came for the fascists peddling gaudy trash to half-wits, I did not speak out - because I was not a fascist...*
by
| | Reply
Post ID: @ar+1m50r8a33

Post a reply

: