December 11, 2025

NSSF Supports OCC Ripping Back Veil of Banking Discrimination

WASHINGTON, D.C. — NSSF^®, The Firearm Industry Trade Association, is encouraged and supports the Office of the Comptroller of the Currency’s (OCC) preliminary findings after reviewing large banks’ debanking activities. The OCC report revealed what the firearm industry has known, and experienced, for years. Large banks systematically “made inappropriate distinctions” of lawful businesses, including those against firearm-related businesses, to restrict access to banking services.

In short, large banks including JPMorgan Chase Bank, Bank of America, Citibank, Wells Fargo Bank, U.S. Bank, Capital One, PNC Bank, TD Bank and BMO Bank, unlawfully discriminated against certain industries, including the firearm industry, for political reasons. This practice is unlawful and is demonstrative of corporate banks exercising an antigun agenda to deprive, starve out and eliminate firearm businesses despite the fact they lawfully produce and sell a constitutionally-protected product to law-abiding citizens. NSSF revealed that JPMorgan Chase CEO Jamie Dimon was untruthful when he claimed his bank doesn’t discriminate for political reasons and has repeatedly exposed unlawful debanking activities.

“NSSF is encouraged that the Trump administration, through the Office of the Comptroller of the Currency, is exercising its regulatory authority to protect industries from unlawful banking discrimination,” said Lawrence G. Keane, NSSF Senior Vice President & General Counsel. “Eliminating banking discrimination was a focus of the first Trump administration, which was stymied by Biden administration’s antigun agenda. We are hopeful that this preliminary report is only the beginning of ending this unscrupulous practice of weaponizing finance and ensuring banks aren’t used as to advance extremist policies that have been rejected by Congress.”

The OCC’s preliminary findings established that the firearm industry was a target of unlawful debanking, along with other industries that were politically disfavored by banks, including oil and gas exploration, coal mining and digital assets, among others.

The OCC’s report specifically stated:

Firearms, firearms accessories, or ammunition manufacturing or distribution. Several banks restricted financing to firearms manufacturers or retailers, including those offering assault- or military-style weapons for civilian use. Others included certain firearms accessories  (e.g., bump stocks, high-capacity magazines). At least two banks highlighted “polarizing” or “polarized” public opinion surrounding individual gun ownership rights and gun control as part of the basis for their firearms restrictions. Another bank noted that “an association with certain [f]irearms [m]anufacturers and [r]etailers could result in significant [f]ranchise risk, particularly when those firearms are associated with civilian gun violence.” As a result, it conditioned relationships with these manufacturers and retailers on their adherence to the bank’s view of “best practices” regarding the sale of firearms.

-30-

About NSSF
NSSF is the trade association for the firearm industry. Its mission is to promote, protect and preserve hunting and the shooting sports. Formed in 1961, NSSF has a membership of thousands of manufacturers, distributors, firearms retailers, shooting ranges, sportsmen’s organizations and publishers nationwide. For more information, visit nssf.org.

________________________

Media contact:
Mark Oliva
202-220-1340

Categories: BP Item, Featured, Government Relations, Press Releases, Top Stories