EXCLUSIVE: Corporate Watchdog Commends Major Banks For Taking Steps To Prevent Political, Religious ‘Debanking’

A corporate watchdog group commended five banks for making efforts to prevent “politicized debanking,” according to letters obtained by the Daily Caller News Foundation.

Bank of America (BoA), Citigroup, JPMorgan Chase, PNC Bank and Regions Bank have all affirmed policies this year protecting customers from discrimination based on political and religious viewpoints, the 1792 Exchange highlighted in Sept. 16 letters.

“Your example is especially important as more institutions recognize the legal and reputational risks of politicized debanking,” 1792 Exchange CEO Daniel Cameron wrote to the companies.

President Donald Trump issued an executive order against debanking in August, directing federal banking regulators to “remove the use of reputation risk or equivalent concepts that could result in politicized or unlawful debanking” from guidance.

“It is the policy of the United States that no American should be denied access to financial services because of their constitutionally or statutorily protected beliefs, affiliations, or political views, and to ensure that politicized or unlawful debanking is not used as a tool to inhibit such beliefs, affiliations, or political views,” the order states.

The Small Business Administration (SBA) directed more than 5,000 lenders to end discriminatory debanking practices and reinstate any clients denied service or access for political reasons by Dec. 5, 2025.

READ:

1792 Exchange Viewpoint Protection Letters September 2025 by Katelynn Richardson

Cameron told the DCNF the executive order is “preserving financial freedoms and preventing politically motivated discrimination.” (RELATED: Citi Stops Debanking Gun Retailers)

“For too long, conservatives, Christians, and crypto companies have been discriminated against by big banks and financial institutions,” Daniel said. “President Trump is committed to protecting Americans’ constitutional rights and reducing regulatory overreach that stifles American businesses and individuals.”

BoA changed its 2025 Code of Conduct to ban discrimination based on “political viewpoint or affiliation” and religion. It also removed diversity goals and ended requirement for hiring managers to interview a “diverse slate” of candidates in February, Fortune reported.

“While we have been very clear that politics is not a factor in our decisions, we received thoughtful input from a range of stakeholders and agreed it is best to explicitly add that to our Code of Conduct,” a BoA spokesperson told the DCNF.

Other policy changes highlighted by the 1792 Exchange similarly involved stronger language protecting religious and political viewpoints.

Prior to Trump’s executive order, Citigroup in June stopped a policy restricting banking services for firearm businesses. Ed Skyler, Citigroup’s head of enterprise services and public affairs, noted in a June statement that its policy changes “reinforce our commitment to serve all clients fairly.”

Regions Bank did not respond to a request for comment. PNC Bank declined to provide additional comment.

Some religious organizations represented by the Alliance Defending Freedom, such as Indigenous Advance Ministries, have claimed BoA canceled their accounts due to their views.

After the Jan. 6, 2021, Capitol Hill riot, BoA gave federal law enforcement the names of individuals who made transactions in the area at the time, according to a Select Subcommittee on the Weaponization of the Federal Government report. John Eastman, formerly a lawyer for Trump, told the Daily Caller in April 2024 that he was debanked by both BoA and USAA.

JPMorgan Chase likewise agreed in March to affirm that it would not discriminate against “political opinions, speech or affiliations” or “religious views” in its 2025 Code of Conduct.

“We are committed to ensuring fair access to financial services, regardless of ideology,” a JPMorgan Chase spokesperson told the DCNF, noting they appreciate Cameron’s letter. “It is wrong to close accounts for political reasons, which is why we codified this principle in our firmwide policy.”

Trump told CNBC in August that both JPMorgan Chase and Bank of America rejected deposits after his first term, though both have denied political beliefs are a factor in closing accounts.

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