Regulator Reports Banks Debanking Customers Over Political Views

• Nine top U.S. banks debanked customers over political or religious views.
• Bank of America faces a $1.21 billion fine for compliance failures involving Chinese money-laundering networks.
• The fine is the largest ever imposed by the U.S. Treasury for such violations.
• The penalties could prompt Western banks to tighten scrutiny of Chinese clients and cross-border transactions.
• The Office of the Comptroller of the Currency reported the debanking of customers.