Posted on 01/27/2025 5:20:13 AM PST by MtnClimber
Speaking to the World Economic Forum in Davos, Switzerland, President Trump blasted Bank of America CEO Brian Moynihan and JP Morgan Chase CEO Jamie Dimon for cancelling the accounts of conservatives and Christian activists.
Bank of America (BoA)’s Moynihan has denied the president’s allegations of de-banking and says that they “welcome conservatives” and “have no political litmus test” for their customers.
However, JP Morgan Chase CEO Jamie Dimon offered a more convoluted defense of the practice maintaining that “we’re not allowed to tell you why we de-banked you” but that if they don’t do it, the bank could face big trouble in the event of actual fraud or money laundering.
Dimon also posed the possibility that a person who might be innocent today might be convicted five years later, potentially costing the bank hundreds of millions of dollars.
The JP Morgan Chase CEO added, “We have to comply with the law, but it’s ambiguous and we’re punished.”
Whatever excuses the banks may be offering, there’s clear evidence that big banks have drawn a line against conservative customers.
The New York Post reports that BoA turned over consumer information to the FBI and Treasury Dept. when investigating the Jan 6, 2021 riots at the Capitol.
Also, Trump’s youngest son Barron experienced bias from an unnamed U.S. lender who refused to open an account for him at the end of his father’s first term.
Bank of America has faced scrutiny from governors of several Republican states who have looked into accusations of “religious” and “political” debanking of its customers.
If nothing else, conservatives are learning to choose their banking institutions with care.
(Excerpt) Read more at amgreatness.com ...
The leftist bank regulators can likely destroy a bank if the bank is not following leftist political mandates.
The proof is that is that it is happening. Just ask Melania and Barron Trump.
Me thinks they protest too much. And lie even more.
Is there anything to Dimon’s claim? If so, what is the law and what would it take to change it?
On a related note, an 80 second video well worth the watch on “Job Security”...
https://x.com/FreyjaTarte/status/1883283136131534890
Note to Deep State: Does it remind you of anyone we know...?
Bank of America...
If you have no legal reason, we are forced to investigate you at all levels to determine the extent of your illegal actions.
Start with a banking consumer complaint hotline as BOA are crooks. I say that based upon my own experiences with them.
This is not lawfare. It is investigation into lawfare by BOA.
So essentially the bank is accusing you of participating in fraudulent activity if they de-bank you. That seems a bit libelous to me.
Well then the Right leaning bank regulators can do the same if it does de-bank anyone for any but commercial reasons. Its high time we used the power of government to lean on the big banks in exactly that way.
Time for a good hard look at BOA for anti-trust violations.
Investors in the bank also have grounds for action, as the bank is taking action to refuse business based on non- business considerations, adversely affecting the company’s profitability as well as opening them up to legal liabilities.
Jamie Dimon - not one of the good guys, to say the least.
“We have to comply with the law, but it’s ambiguous and we’re punished.”
TWADDLE !!!!!!!!!!!!!!
Bank of America Corporation Federal PAC
Click here for PDF of 2024 contributions (as of June 30)
a person who might be innocent today might be convicted five years later,
______________________
I guess, they then need to go out of business.
Anybody is a potential risk?!
But, yes, somebody, Trump or congress needs to act and clear the law.
For a long time, congress has been passing ambiguous laws, and then letting bureaucrats interpret them at their will.
One of the main reason the deep state got so big!
To get rid of the deep state, the laws (many, not just the banking ones) need to be cleared up!
That will take a lot of time, but they should at least start!
“However, JP Morgan Chase CEO Jamie Dimon offered a more convoluted defense of the practice maintaining that “we’re not allowed to tell you why we de-banked you” but that if they don’t do it, the bank could face big trouble in the event of actual fraud or money laundering.”
ONCE AGAIN our side will blame the wrong people. In this case the bankers, who don’t know Tommy Robinson from a hole in the wall, are not on their own going all of a sudden, with all banks working together, flag Tommy Robinson, at the same time. Just WILL NOT HAPPEN. (using UK guy but same thing)
So I’ll translate the above from Jamie Dimon - the hypothetical indictment of Bank of America starts as follows:
“USA versus Bank of America regarding Mike Smith”
“Bank of America was warned several times by the Department of Treasury that Mike Smith might be a big time financial thief (or be part of an insurrection on Jan 6th, 2021, for that matter), yet Bank of America refused to follow our guidance. We have now arrested Mike Smith for money laundering. Therefore, we recommend a $10B fine on Bank of America and the arrest of their Chief Compliance Officer for not complying with our guidance...”
This is how the Democrats work, and needless to say, Bank of America would also be told to never reveal the source of their ‘guidance’.
“Is there anything to Dimon’s claim? If so, what is the law and what would it take to change it?”
I didn’t get the feeling that his comment has anything to do with the law. I assumed it meant thuggery by some entity / organization outside of the law. But maybe you’re right — an obscure law or something.
The question not posed:
"Who was the corruptor and by which agency(s) were they engaged?"
We would quickly find who gave the order...but we all have our suspicions as to the degree of infection the bureaucracy has suffered regardless of who initially tipped the first domino.
I’m thinking the guv is telling them to debank individuals—but not tell the individuals why.
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