The Office of the Comptroller of the Currency released a supervisory report on October 14 covering debanking practices at the nine largest national banks it regulates. The OCC report says all nine maintained policies between 2020 and September 2025 that could deny or limit financial services because of political or religious beliefs or lawful business activity. Firearm and ammunition manufacturing or distribution were among the sectors restricted by public or internal bank policies.

The review covered JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S. Bank, Capital One, PNC, TD and BMO. OCC staff examined nearly 100,000 complaints and received about 50,000 bank documents totaling roughly 420,000 pages. The agency also tested individual customer decisions. Its report describes actual denials and conditions, but it does not provide a count of every firearm business affected or identify most customers. That makes the document evidence of specific practices, not a measurement of the entire industry's access to banking.

Firearm policies reached real transactions

The OCC found that several banks restricted financing for firearm manufacturers or retailers, including businesses offering what the banks called assault-style or military-style weapons for civilian use. Some restrictions reached firearm accessories. Banks cited protests, campaigns, mass shootings, anticipated criticism from politicians and activists, and possible pressure from regulators. One bank conditioned relationships with manufacturers and retailers on compliance with its own view of firearm-sales best practices rather than limiting review to legal compliance and conventional financial risks.