Federal Report Examines Debanking of Faith-Based Ministries

A recent report from the Office of the Comptroller of the Currency, titled “Debanked: Guaranteeing Fair Banking for All Americans,” has highlighted the practice of financial institutions closing accounts held by religious organizations. The report, commissioned following a 2025 executive order by President Trump, identifies the use of vague “reputational risk” standards as a primary justification for these actions. It acknowledges that such policies have caused significant operational harm to faith-based nonprofits.

The issue gained public attention after several ministries, including Timothy Two Project International and Indigenous Advance, reported having their accounts closed by Bank of America. Leaders of these organizations noted that they were given little explanation beyond claims that their activities did not align with the bank’s risk tolerance. The topic reached a global stage in January 2025 when President Trump questioned Bank of America CEO Brian Moynihan regarding the treatment of conservative and religious clients during a World Economic Forum event. The new federal report now formally addresses these concerns, aiming to ensure fair banking practices across the industry.