Brand new bombshell reports have emerged stating that major banks shut down accounts and refused credit to MAGA merchants, pro-life causes, religious groups, conservative organizations, and any sectors that weren’t favorable to former President Joe Biden and his administration, including firearms, oil and gas, and private prisons.
The Debanking Review by the Office of the Comptroller of the Currency (OCC) investigated 100,000 complaints and looked through 50,000 internal bank records to reveal how customers were “debanked” based on their political, social, or religious beliefs and principles. Some of the banks that were found to be discriminatory include JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S. Bank, Capital One, PNC, TD Bank, and BMO Bank.
The report found that these institutions discriminated against American consumers they deemed to be a “reputation risk,” denying them service between 2020 and 2025. Criticism from advocacy groups, along with negative press, and protests from organizations like the Southern Poverty Law Center, coupled with reprisals from regulators or politicians were listed as the reputation risks most feared by the banks.
According to a report published by The New York Post, a 47-page OCC report called, “Guaranteeing Fair Banking for All Americans,” discovered that the nation’s largest banks focused in on specific Christian organizations for their stance on abortion, LGBTQ issues, and upholding traditional family values. And the discrimination didn’t end there.
These major banking institutions also placed heavy restrictions for financing on “disfavored” industries like firearms manufacturers and retailers, Arctic gas and oil, detention facilities, and tobacco and e-cigarettes. One of the examples cited in the report is WePay from JPMorgan Chase. WePay is a payment operation that closed the account of a merchant that sold merchandise promoting President Donald Trump and the Make America Great Again (MAGA) brand.
The company said that the merchant “promoted hate, violence, or racial intolerance.” The internal screening system for the bank flagged words and phrases like “MAGA,” “Make America Great Again,” and “America First” that appeared in a number of merchants’ customer profiles, websites, and transactions. Several of the terms used to discover “violations” were added following the Capitol riot on January 6, 2021.
WePay struck again, closing down accounts for a merchant that sold “conservative/republican t-shirts, hats, etc.,” or merchandise they claim raises “red flags,” including a t-shirt that claimed Biden was an illegitimate president or that Trump had the 2020 election stolen from him, a claim that eventually led to the riot.
"*" indicates required fields
Many banks turned to the hate group designations listed by the Southern Poverty Law Center to debank customers. In April 2026, the SPLC was officially indicted on charges of federal fraud and money-laundering, as prosecutors claim the organization defrauded donors of millions of dollars. WePay shutdown a religious organization, referring to it as a “[r]ight wing religious conservative nonprofit with strong anti LGBTQ rhetoric.”
Wells Fargo put the screws to a payment processor in order to pressure it into cutting ties with a religious nonprofit due to their views on same-sex marriage. The same bank also refused to lend money to two firearm companies. “Under the Biden administration, banks could face greater supervisory pressure to move away from lending to the firearms industry,” a reputation risk review of a prospective firearms client went on to say.
President Trump is currently in the process of suing JPMorgan Chase, alleging that the bank closed out his accounts in 2021 for political reasons following the riot that took place at the Capitol. The president’s wife, Melania, along with his children, Eric and Barron Trump, have also complained about being debanked at the same time, along with several other businesses owned by the Trump family.