NEW YORK (Reuters) -A senior U.S. bank regulator said Tuesday that he is looking to ensure that large banks have abandoned previous policies that may have contributed to “debanking” of certain industries or clients. Jonathan Gould, head of the Office of the Comptroller of the Currency, said at a conference that OCC supervisors were ensuring […]
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U.S. bank regulator looking to ensure big banks have scrapped ‘debanking’ policies
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NEW YORK (Reuters) -A senior U.S. bank regulator said Tuesday that he is looking to ensure that large banks have abandoned previous policies that may have contributed to “debanking” of certain industries or clients.
Jonathan Gould, head of the Office of the Comptroller of the Currency, said at a conference that OCC supervisors were ensuring some of the nation’s largest banks have followed through on scrapping policies that discouraged providing services to certain sectors, like firearms.
Gould noted that some banks have said they had changed their policies, but following a June executive order from President Donald Trump, supervisors were checking to make sure the largest banks were no longer engaged in such practices.
(Reporting by Pete Schroeder)