Bank of America Is an Active Enemy Combatant Targeting Conservatives

Liberty Daily ^ | Apr. 17, 2024 | Ethan Huff

[Red Badger]

Legislators in Republican-led states want to know why Bank of America continues to de-bank Christians and conservative groups.

In a letter led by Kansas Attorney General Kris Kobach, the dozen some-odd “red” states asked the financial institution to release all documents related to its account cancellation policies. The letter also petitions Bank of America to update its terms of service to prohibit discrimination against clients based on their political or religious affiliation.

The issue came to a head after it was revealed that Bank of America sent the FBI and the U.S. Treasury private consumer financial data to help the two federal agencies investigate crimes related to the January 6 “insurrection” at the United States Capitol.

“Unfortunately, Bank of America appears to be conditioning access to its services on customers having the bank’s preferred religious or political views,” Kobach’s letter, addressed to Bank of America CEO Brian Moynihan, reads.

“Your discriminatory behavior is a serious threat to free speech and religious freedom, is potentially illegal, and is causing political and regulatory backlash.”

Kobach’s letter is co-signed by officials from the states of Alaska, Arkansas, Indiana, Iowa, Mississippi, Missouri, Montana, Nebraska, South Carolina, Texas and Utah.

Financial discrimination In a statement to the Daily Mail Online (United Kingdom), Bank of America claimed that “religious beliefs are not a factor in any account-closing decision.”

“We are proud to provide banking services to non-profit organizations affiliated with diverse faith communities throughout the United States,” the bank further added.

The letter’s signatories disagree with this claim, stating that Bank of America de-banked two Christian ministry groups, Timothy Two Project International and Indigenous Advance, as well as the Memphis, Tenn.-based church Servants of Christ.

According to Kobach, Timothy Two Project International had its account canceled by Bank of America for “operating a business type we have chosen not to service.” A similar thing happened to Indigenous Advance, which had its account canceled because the group’s operation “no longer aligns with the bank’s risk tolerance.”

According to Bank of America, the reason for Indigenous Advance’s cancellation is that it operates a business in Uganda, and the bank does not “serve small businesses operating outside the United States.”

As for Servants of Christ, its Bank of America account was cancelled because it was deemed to be “the wrong ‘business type,'” according to Kobach.

“Bank of America is exposing itself to numerous legal risks by engaging in de-banking,” Kobach’s letter continues. “It is opening itself up to potential legal liability under consumer protection and antidiscrimination laws, and creating substantial regulatory and political risk from states that are already taking action to stop debanking.”

“Financial institutions set the stage for politicized de-banking by adopting vague and subjective ‘reputational risk’ policies and prohibitions on ‘hate’ that are susceptible to abuse.”

The letter comes as the House Select Subcommittee on the Weaponization of the Federal Government continues to probe numerous institutions that have a relationship with federal officials.

A U.S. Treasury memo that circulated to banks around the time of the January 6 “insurrection” also pegged Bass Pro Shops and Dick’s Sporting Goods as engaging in transactions that possibly showed signs of “extremism,” the suggestion being that they, too, needed to be canceled.

House investigations are also ongoing into the crowdfunding sites GoFundMe and Eventbrite, both of which were pegged as having possible involvement in “extremism.”

“You appear to be using this power to punish conservative and religious customers by handing their data over to federal law enforcement and even cancelling their accounts,” Kobach further said to Bank of America.

“This not only undermines free speech and religious freedom, but also is potentially illegal and could lead to investigations, litigation, regulation, and political backlash.”

[Bob Wills is still the king]

Any business will tell you “reputational concern” is a real risk.

[FLT-bird]

Well if you want to run a bank in this state, you may not discriminate for anything but commercial reasons (ie the customer has shown they are a bad credit risk). That needs to be the response.

The alternative is simply not to do business in this state.

[M Kehoe]

When this incident occurred, I closed out my small savings account.

5.56mm

[MikelTackNailer]

"Quit (BoA) within a year. And never went back...same with Wells Fargo."

"BOA is the worst. They pioneered giving cc and loans to illegals."

"No matter who you are, B of A and Wells Fargo seem to go out of their way to create multiple account charges and poor customer service."

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Both of these banks are THE primary conduits of remittance monies flowing from illegal aliens to points out of our United States - so much so that more than two (corrupt) countries South of our border are dependent on that money to remain afloat.

I'm APPALLED that USAA, which has long claimed to have veterans' interest at heart, have lowered themselves to the level of AARP - who support leftist causes without most of their members even aware of it.

If these banks' remittance rackets aren't shut down they should be "tarriffed" (if that's the correct term) 10 or 20% to help cover the astronomical costs to our systems the illegals cost we citizens.

[fatboy]

I had an MBNA Bank NASCAR credit card. When BOA purchased MBNA’s credit card division my account was transferred to them. In short order my credit limit was doubled and finally it landed at $39,000.00 Me, being a dumbass, racked up a hefty balance of $18K. This wasn’t our only CC with a balance but it was the one with the biggest balance.

One month my payment was received in a day late and incurred a late charge., I called and they reversed it but the event served as one of several catalysts that got us on the path to becoming debt free. While it was our fault that we had so much CC debt, BOA made it very easy.

Anyway, once we decided to start our debt free journey, we haven’t used any credit cards or incurred and debt of any kind since. So one favor BOA did for us was that our experience so devastated our finances and the cure so changed our lives for the positive that I’m not sure that had we not had such a debt problem that we would be as frugal and investment/saving minded that we are today.