Major banks closed accounts of MAGA, pro-life and other conservative groups disfavored by Biden admin: bombshell report

Major banks closed accounts and refused credit to MAGA merchants, pro-life causes, religious groups, conservative organizations and sectors disfavored by the Biden administration, such as firearms, oil and gas, and private prisons, a bombshell report from the federal banking regulator has found.The Debanking Review by the Office of the Comptroller of the Currency (OCC) investigated 100,000 complaints and scrutinized 50,000 internal bank records to reveal how customers were “debanked” based purely on their political, social, or religious beliefs.JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S.Bank, Capital One, PNC, TD Bank, and BMO Bank were found to have discriminated against American consumers, citing “reputation risk” as a reason to deny service between 2020 and 2025.Negative press, protests, criticism from advocacy groups such as the Southern Poverty Law Center, and reprisals from regulators or politicians were cited as the reputation risks most feared by the banks.The 47-page OCC report, “Guaranteeing Fair Banking for All Americans,” released Wednesday, found that the nation’s largest banks targeted Christian organizations over abortion, LGBTQ issues, and traditional family values. The banks also restricted financing for “disfavored” industries such as firearms makers and retailers, Arctic oil and gas, coal, detention facilities, tobacco and e-cigarettes.Among the examples in the report is JPMorgan Chase’s payment operation, WePay, closing the account of a merchant that sold merchandise promoting President Trump and the Make America Great Again (MAGA) brand, claiming it “promote[d] hate, violence, or racial intolerance.”The bank’s internal screening system regularly flagged terms such as “MAGA,” “Make America Great,” and “America First” that appeared in merchants’ customer profiles, websites, and transaction information.

Several of the terms used to find “violations” were added after the January 6, 20...