TD Bank and Bank of Montreal are among nine major lenders named in a U.S. regulatory report examining whether customers were unfairly denied banking services because of their political or religious beliefs.
The Office of the Comptroller of the Currency said its findings followed a supervisory review of debanking practices at some of the largest banks under its oversight. The review drew on approximately 100,000 complaints involving OCC-regulated institutions.
The investigation followed an executive order signed by President Donald Trump in August 2025 directing that Americans should not lose access to financial services because of their religious or political views.
Comptroller Jonathan Gould accused the banks identified in the report of denying services to customers and discriminating against lawful businesses. The account provided did not detail the individual findings concerning TD or BMO.
TD did not immediately respond to a request for comment. BMO directed The Canadian Press to a statement from the Bank Policy Institute, an American banking industry advocacy organization.
The institute said it supports fair access to financial services and has been working to ensure government rules allow banks to serve customers engaged in lawful activities.
Debanking generally refers to a financial institution closing an account or withdrawing banking services. The U.S. review focuses on whether such decisions improperly restricted access on political or religious grounds.