WASHINGTON, Sept 8 (Reuters) - A top U.S. banking
regulator said Monday it was rolling out new guidance to
discourage banks from cutting off, or "debanking", customers on
political and religious grounds, a month after President Donald
Trump directed oversight agencies to scrutinize banks for
political bias.
The Office of the Comptroller of the Currency (OCC) said in
a statement it had issued two bulletins explaining how it would
scrutinize bank policies for avoiding such discrimination and
how banks should limit sharing of customer data in reporting
suspicious activity to government authorities.
The OCC is the primary regulator for the nation's largest
banks, which hold the lion's share of consumer deposits.
The White House and conservatives have accused financial
institutions of seeking to silence right-leaning political
speech and activities by closing customer accounts and avoiding
conservative businesses.
Trump last month also accused JPMorgan ( JPM ) and Bank of
America ( BAC ), without citing evidence, of refusing his
deposits on political grounds. Neither bank directly addressed
his claims but JPMorgan ( JPM ) said it did not close accounts for
political reasons.
A Reuters analysis shows that few consumers have lodged
complaints about debanking in recent years.