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 ...
Speaking of "convoluted," I wonder how many of the Biden-family's shell corporations banked with JP Morgan?
That is a hell of a story. Seems like it could be worthy of a movie script. Ever considered that?
“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.”
I see. Bank of America is part of Minority Report’s pre-crime division.
Why did BofA deny Barron Trump opening an account there?
This isn’t just BOA & Chase. The gov told Wells Fargo to run their algorithm. The gov algorithm said my wife was a drug courier. Her money on that bank was seized. She’s guilty until she spends more than she had in the bank to hire lawyers to prove her innocence.
Reasonable to presume that if it were guv enforced it wouldn’t be just those two banks.
And tell your wife to stop dealing drugs! /jk
As I don’t work at BofA I can’t say, but my guess would be likely something to do with KYC and AML requirements not being met.
As I don’t work at BofA I can’t say, but my guess would be likely something to do with KYC and AML requirements not being met.
“ Close, but we should do EXACTLY what Biden’s people did, but with one exception.
We have Treasury tell the banks to De-Bank a group of people, perhaps those who will not cooperate on immigration enforcement, BUT then tell the entire country that we’re doing it. The Democrats would scream like mad, so we politely ask them: “Would you like to join us in passing a law to prohibit debanking, with the only exception being from non-FISA court order, and only after a felony conviction.”
Something like that.”
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I like that - very Trumpian, threaten the other guy with fire and brimstone, and when he screams about it, offer a “compromise“ that was your original goal that he would never have agreed to otherwise. Best real-world professor ever.
The proof is that is that it is happening. Just ask Melania and Barron Trump.
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These bankers and regulators are messing with fire. Trump’s lawyer, John Eastman, was debanked by USAA and I bet Eastman is chomping on the bit to make these suckers fess up in depositions and a hefty civil law suit to go with it. There is little doubt USAA debanked Eastman because he was Trump’s attorney challenging the 2020 election results.
bttt
Pull their charters.
IIRC-—THE BANKS REFUSED/CLOSE ACCOUNTS FOR MELANIA & BARRON TRUMP.
THE SILICON BANK MESS NEEDS A HARD AUDIT
Well, that's it. If they need to debank anybody due to the risk of money laundering then Catholic Charities and Planned Parenthood ought to be right at the top of the list.
Some sort of law(fare) the rest of US including president Trump we don’t know about?-)
BULL$}{!T boa, you LIE, SUCK AND ARE RUDE !!!
I will never do anything with your commie company. In the past you refused to cash My Payroll Checks drawn on your bank because I didn’t have an account with your bank and that’s BU££$}{!T or wanted to charge Me $25.00 !!!
Gaslighting..........
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