The Office of the Comptroller of the Currency within the U.S. Treasury Department released a comprehensive report revealing that the nine largest national banks used reputation risk policies lacking clear and objective standards. These policies could disadvantage customers based on their political views, religious beliefs, or lawful business activities. The regulator reviewed nearly 100,000 complaints and approximately 420,000 pages of documents. The findings come after President Trump repeatedly accused major banks of discriminating against conservatives, claims the banks have denied. The report was released one day after regulators imposed over $1.2 billion in penalties on Bank of America for anti-money-laundering failures.
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