Posted on 08/22/2023 9:25:35 AM PDT by algore
A 'debanking' row has broken out after an ultra-conservative Christian charity which provides necessities to Ugandan orphans had its account shut down by Bank of America.
Memphis-based non-profit Indigenous Advance Ministries has filed a complaint to the Tennessee Attorney-General's office over concerns its accounts were closed because the bank disagrees with its 'religious views.'
The organization - which claims to have had a banking relationship with BofA since 2015 - purports pro-life and anti-same sex relationship values on its website.
BofA firmly denies it 'debanked' the body over these views, telling DailyMail.com that 'religious beliefs are not a factor in any account-closing decision.'
Historically the term referred to cases where banks limit financial services to businesses it assessed as having money laundering risks. But firms are increasingly being accused of closing accounts over reputational fears.
On April 24 this year, it was sent a letter by the bank advising that its accounts were being shut down within 30 days.
The charity works with Ugandan ministries to provide support for orphaned and vulnerable children and prisoners in the African country.
It endorses a number of evangelical Christian views including that 'all human life is sacred... from conception to natural death.'
A spokesperson for BofA said the closure was related to a part of Indigenous' operations which includes debt collection.
On its website, Indigenous said it is 'dedicated to pursuing the recovery of overdue invoices on behalf of our clients.'
BofA claimed debt collection services are a clear violation of its policies. The Bank added it only became aware of this part of the charity's operation when the new account was opened in January.
However, when DailyMail.com asked BofA to share the exact part of its policies that says it doesn't service debt collection agencies, it was unable to do so.
(Excerpt) Read more at dailymail.co.uk ...
What is “ultra-conservative” about Indigenous Advance Ministries?
Is BofA FDIC insured? If so they’re in violation of federal law. Me thinks the Christian group is going to be a lot wealthier in the future.
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