Watchdog Finds 9 Large US Banks Actively Engaged in Debanking
Banks targeted industries based on media reports and other reputational standards, the report revealed
Nine of the largest banks have been found to engage in debanking activities, according to preliminary findings in a Dec. 10 review report published by the Office of the Comptroller of the Currency (OCC).The report follows the banking regulator’s implementation of President Donald Trump’s Executive Order 14331, “Guaranteeing Fair Banking For All Americans,” which said that financial institutions have been engaging in practices that restrict law-abiding individuals and businesses from services on the basis of political or religious beliefs. The order was issued on Aug. 7.
As part of its review, the OCC requested information from the nine largest national banks under its supervision, including, by asset size:
1. JPMorgan Chase Bank, N.A.
2. Bank of America, N.A.
3. Citibank, N.A.
4. Wells Fargo Bank, N.A. (My bank!)
5. U.S. Bank, N.A.
6. Capital One, N.A.
7. PNC Bank, N.A.
8. TD Bank, N.A.
9. BMO Bank, N.A.
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11 comments:
Mine too, and I hate them. They had the nerve to take over Wachovia, which was a really good bank.
I feel safe with Wells Fargo--too big to fail idea.
I love credit unions better than banks!
They closed my branch on Federal and Lucerne. Now the lot sits and waits for a developer to build some monstrosity there.
Andrew Ross Sorkin wrote that book. Maybe you should read it!
@2:12...loved that branch...miss it. They closed down branches all over the country that were costing too much to operate. They made a big mistake...hate the branch at 120 N. Dixie.
It depends when you go to the one on Dixie. I went there and was the only one there. The time before that I was in line with about 70 people. Wachovia was a great bank, and the government conspired to have WF take it over.
@6:39...did not know the "government conspired to have WF take over Wachovia." Any specifics?
Read this--https://www.sec.gov/enforcement-litigation/litigation-releases/lr-22183
Where are these “monstrosities” you dirty hippies keep crying bout? We’d be fortunate to have a Steven Witkoff develop Lake Worth Beach.
The Acquisition of Wachovia Corporation by Wells Fargo and Company-Federal Reserve Board. I'll read it tomorrow!
/www.federalreserve.gov/newsevents/testimony/alvarez20100901a.htm
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