In February 2021, a payment processor called WePay shut down a merchant's account for selling pro-Trump merchandise. The flagged terms that triggered the closure included "MAGA," "Make America Great," and "America First." Not fraud. Not chargebacks. Not money laundering. A red hat.
The Office of the Comptroller of the Currency just released the receipts.
The OCC reviewed nearly 100,000 complaints and examined 420,000 pages of evidence documenting how major American banks systematically denied financial services to individuals and organizations based on their political and religious beliefs. The report, covered by AMAC Newsline, names the institutions directly: JPMorgan Chase, Bank of America, Wells Fargo, TD Bank, Capital One, and WePay.
The specifics are worse than the summary. In 2020, Bank of America closed the accounts of Timothy Two Project International, a faith-based organization. In 2021, both JPMorgan Chase and Bank of America refused deposits associated with Donald Trump. TD Bank denied credit to a faith-based health-sharing ministry, with internal documents noting that "the moral and religious requirements to participate in plans like [this plan] appear to conflict with TD's values of diversity and inclusion." A pro-life nonprofit got flagged by TD Bank for "reputational risk" review — not financial risk, reputational risk.
WePay didn't just close one account. The processor actively flagged organizations using keywords associated with conservative politics. If your business name or product description contained "MAGA" or "America First," you were on a list. Not a marketing list. A blacklist.
Internal documents from Wells Fargo revealed that under the Biden administration, the bank anticipated "greater supervisory pressure to move away from lending to the firearms industry." The banks weren't just making independent business decisions. They were reading the political winds and preemptively cutting off legal industries — oil, gas, coal, firearms — to stay in the government's good graces. Operation Choke Point never officially came back. It never had to. The banks internalized it.
The Southern Poverty Law Center and the Anti-Defamation League show up in the paper trail as organizations whose classifications banks used to justify debanking decisions. Alliance Defending Freedom, Turning Point USA, and Family Research Council all appeared among the targets. Banks that received taxpayer bailouts were using left-wing advocacy groups as their compliance departments.
Dan Weber, founder of AMAC, mobilized members who sent over 91,000 messages to JPMorgan Chase over the debanking practices. President Trump signed an executive order on August 7, 2025, stating that "financial institutions have engaged in unacceptable practices to restrict law-abiding individuals' and businesses' access to financial services on the basis of political or religious beliefs or lawful business activities."
The executive order exists. The OCC report exists. The 420,000 pages of evidence exist. What doesn't exist yet is a single consequence for any of the banks named in the report.
TD Bank put it in writing — a customer's religious beliefs "conflict with TD's values." That's not a leaked Slack message or an anonymous source. That's an internal bank document, reviewed by a federal regulator, included in an official report. A bank that exists because the federal government charters it and insures its deposits decided that a customer's faith was incompatible with its corporate values.
The banks that were too big to fail have decided some customers are too conservative to serve.