OCC finds nine major U.S. banks restricted services to some sectors between 2020 and 2023

Nine major U.S. banks kept policies in place from 2020 to 2023 that limited access to services for certain customers, in the first formal findings of an OCC review. The affected sectors include firearms, oil and gas, private prisons and digital assets, according to the OCC. The banks say the decisions reflect risk management and are calling for clearer regulatory guidance.