The US Office of the Comptroller of the Currency takes action to eliminate "de-banking" phenomenon

ChainCatcher News, the US Office of the Comptroller of the Currency (OCC) announced on Monday that it will take measures to eliminate the so-called "de-banking" phenomenon, responding to calls from industry groups and Republicans to end what is seen as an unfair practice.

OCC head Jonathan Gould stated: "The OCC is taking steps to end the weaponization of the financial system," adding that the agency will be committed to eradicating illegal discrimination by banks against customers based on political or religious beliefs.