US Banking Regulator Warns Wall Street

Warning on 'Debanking' in the U.S.

The U.S. Office of the Currency Comptroller, the agency that regulates national banks, has published a report addressing the 'debanking' practices affecting certain industries, including the cryptocurrency sector. The report indicates that Wall Street banks are guilty of these practices and could face penalties.

This report was prepared shortly after Donald Trump instructed regulators in August to investigate the issue of debanking. However, it remains unclear what legal authority the OCC will invoke against bankers who violate standards.