OCC Review Finds Nine Banks Restricted Service to Digital-Asset Firms

The Office of the Comptroller of the Currency found that policies at nine major U.S. banks may have restricted services to digital-asset firms, raising questions about how banks assess lawful businesses’ access to financial services.

The policies covered the period from 2020 through September 2025. The banks named were JPMorgan Chase, Bank of America, Citi, Wells Fargo, U.S. Bancorp, Capital One, PNC, TD Bank and BMO.

The review also identified oil and gas, coal, firearms and ammunition, detention facilities, and tobacco among industries affected by policies tied to political or religious views or lawful business activity. It examined nearly 100,000 complaints and about 420,000 pages of documents.

OCC head Jonathan Gould said he was not confident the banks’ recent corrective actions were sufficient. The agency will assess whether further changes to its oversight framework for large banks are needed.