and their excuse for de-banking John Eastman?
Its very simple. Pass laws in all red stated forbidding any discriminatory provision of service or denial of service to anyone for anything but legitimate commercial reasons (ie no “reputational risk” or any other such BS). If a bank is found to have violated this law they need to be fined heavily AND forced to reverse themselves.
If they refuse or if they are found to be a repeat violator, they need to lose their banking charter in that state. How would BofA like to be kicked out of those dozen states? How about we add a dozen more states to the list?
Any business will tell you “reputational concern” is a real risk.