Preliminary review by the Office of the Comptroller of the Currency indicates nine major banks limited access to lawful industries, prompting a pledge to stop such practices.
The Office of the Comptroller of the Currency (OCC), the U.S. federal banking regulator, issued preliminary findings showing nine major banks restricted or rejected services to lawful businesses, including cryptocurrency firms, between 2020 and 2023 based on industry classification. OCC head Jonathan Gould committed to ending what he termed the financial weaponization of banking services.