National Banks Fielding Debanking Inquiries

National banks have disclosed in quarterly 10-Q filings that they are receiving inquiries related to Executive Order 14331, “Guaranteeing Fair Banking for All Americans.”  The disclosures include a range of matters from demands and requests to reviews, investigations, and legal proceedings.

The filings indicate that regulators and others are requesting further information about policies, procedures, and provision of services.

Federal banking regulators are also revising guidance to reflect debanking and reputation risk changes pursuant to Executive Order 14331.  NCUA recently announced it was eliminating “reputation risk and equivalent concepts” from the examination and supervisory process, and WBK previously covered the OCC’s updated guidance here.