A JPMorgan Chase Bank subsidiary was found to have discriminated against political conservatives, according to a statement by the US Office of the Comptroller of the Currency (OCC) on Wednesday, alongside the release of its supervisory review of nine US banks following accusations that they were “debanking” customers for political or religious reasons.
Debanking refers to the limiting or refusal of services to a bank customer, such as closing accounts or refusing loans. While not inherently illegal, debanking becomes controversial when a bank’s decisions are based on factors such as politics or religion rather than on an individual’s financial or compliance
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