In brief
- The OCC found that nine major national banks restricted or denied services to lawful businesses, including crypto firms, based on industry type rather than financial risk.
- The findings revive concerns about “Operation Choke Point 2.0,” with critics claiming regulators informally discouraged banks from serving digital asset companies.
- Comptroller Jonathan Gould said the agency is committed to ending efforts that “weaponize finance,” with thousands of complaints still under review.
A review of the nine largest national banks showed that they restricted or denied services to customers based on their lawful businesses, like digital assets, rather than financial risk, according to a preliminary report from the Office of the…
