In the US, major banks are applying to the OCC (Court of Accountability) to limit state influence and ensure uniform rules are applied to their operations. The banks are requesting national standards for lending, bond issuance, investment banking, and the assessment of money laundering risks.
This move comes particularly at a time when banks are facing accusations of “debanking.” Some states have restricted the operations of banks by penalizing them for issues related to weapons, energy, or climate policies. Banks, however, argue that these practices constitute political or religious discrimination.
The sector is increasing its pressure, emboldened by recent regulations from the Trump administration. Trump’s debanking executive order, signed this month, aims to make the rules more uniform.
Banking associations state that the principle of “national banking priority” should be defended. JPMorgan also issued a statement calling for a “national standard that explicitly prohibits political or religious discrimination in banking.” Supporters argue that national standards would streamline bank operations and eliminate the federal-state dual oversight system. However, some state officials maintain that state oversight is essential for protecting local communities. Supporters argue that national standards would streamline bank operations and eliminate the federal-state dual oversight system. However, some state officials maintain that state oversight is essential for protecting local communities. Supporters argue that state oversight is essential for protecting local communities.
