WASHINGTON — The Office of the Comptroller of the Currency (OCC) on Wednesday released a report on debanking activities at nine large national banks, but omitted any mention of the adult industry despite previously identifying it as a sector facing banking discrimination.
As XBIZ reported last year, President Trump’s August 7, 2025, executive order on debanking prohibited banks, savings associations, credit unions or other financial service providers from restricting access to accounts, loans or other services on the basis of a customer’s lawful business activities “that the financial service provider disagrees with or disfavors for political reasons.”
Following that order, the OCC issued a preliminary report on debanking, in which it named adult entertainment as one of several industries facing discrimination for engaging in activities contrary to banks’ “values.”
“Lines of business within some banks either strictly restricted access to, or required escalated review for, certain financial products or services in connection with customers engaged in the sale or distribution of adult media,” the preliminary report stated.
Among the other sectors identified in that earlier report were: oil and gas, coal, firearms, private prisons, tobacco and cryptocurrency. Those industries were again singled out for attention in the new report, titled “Guaranteeing Fair Banking for All Americans,” which details the findings of the OCC’s investigation into JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S. Bank, Capital One, PNC Bank, TD Bank and BMO Bank.
Adult entertainment was not included this time, nor is the industry ever mentioned in the 47-page document. Instead, the report focuses mainly on how debanking has impacted conservative and right-wing companies and organizations, as well as industries perceived to be disfavored by the political left. The very first example the report cites involves a merchant selling MAGA-themed merchandise. Others involve account closures due to violations of a bank’s responsible firearm standards, and because of an organization’s anti-LGBTQ rhetoric.
Although it never mentions the adult industry, the report does address many aspects of debanking that have plagued adult performers, creators and companies. It notes that banks “largely lacked clear and measurable standards and objective, risk-based criteria for assessing the reputation risks of customer relationships.” It details how “poor communication impaired the ability of customers and prospective customers to understand the reason for a bank’s inquiries or decisions,” and notes that banks “often provided no meaningful explanation” for their actions.
While these experiences will sound familiar to many in the industry, so far federal efforts against debanking seem to have had little impact on adult creators and businesses. Although the Federal Trade Commission has warned credit card and payment companies against denying customers access to services based on lawful business activities perceived as high-risk, and the OCC and Federal Deposit Insurance Corporation (FDIC) have removed “reputation risk” as a criterion in their supervision of financial institutions, attitudes toward the industry within the Trump administration remain far from positive. in April, for instance, the Internal Revenue Service implemented new tax deductions for tip workers—but excluded revenue received for “pornographic activity.” Meanwhile, people working in the industry have continued to experience financial discrimination.
The OCC, the FTC and numerous banks have also failed to respond to XBIZ's requests for clarification, making it seem unlikely that applying anti-debanking rules to protect the industry will become a priority anytime soon.
The new report promises that the OCC “will continue to evaluate account termination practices and consider issuing additional guidance or regulations, as appropriate.” In the meantime, adult industry stakeholders who experience debanking can file a complaint with the OCC at HelpWithMyBank.gov.
The Free Speech Coalition also encourages those in the industry to share their banking discrimination stories so that FSC can relay that information anonymously to help policymakers understand how the issue affects the industry and its members.
