Accessing BasicHttpBinding endpoint fails with System.ServiceModel.Security.SecurityAccessDeniedException: 'Access is denied.'

Question

I have a WCF service exposing basic HTTP binding and HTTPS binding (with federation). The client app can access the service with HTTPS, but the basic HTTP endpoint method access started giving "Access denied"(System.ServiceModel.Security.SecurityAccessDeniedException: 'Access is denied.')

When enabled HTTPS with SSL- The HTTPS endpoint methods are accessible but basic HTTP binding giving Access denied.

Without HTTPS & SSL enablement, BasicHttp binding was working perfectly fine.

Tried with by adding service authorization principal permission mode as "None" but no benefit.

My binding config is,

<ws2007FederationHttpBinding>
    <binding name="ws2007FederationHttpBinding1">
        <security mode="TransportWithMessageCredential">
            <message establishSecurityContext="false" issuedKeyType="BearerKey"/>               
        </security>
    </binding>
</ws2007FederationHttpBinding>

Any Support is highly appreciated.