Posted on 01/27/2025 3:52:55 PM PST by E. Pluribus Unum
After President Trump called out Bank of America’s CEO Thursday for debanking conservatives, the company strenuously denies that it has ever refused service based on Americans’ political or religious beliefs. But free speech lawyers say the company can’t just deny its record of doing exactly that.
On Thursday morning, a newly inaugurated Trump spoke to the World Economic Forum via livestream, taking questions from CEOs of some of the world’s largest companies. During his response to Bank of America CEO Brian Moynihan’s question about the effect of executive orders on the economy, Trump told Moynihan to stop debanking people who disagree with Democrats.
“I hope you start opening your bank to conservatives, because many conservatives complain that the banks are not allowing them to do business within the bank and that included a place called Bank of America,” Trump said, after talking about his efforts to cut inflation. “They don’t take conservative business. And I don’t know if the regulators mandated that because of Biden or what, but … I hope you’re going to open your banks to conservatives, because what you’re doing is wrong.”
On Friday, Bank of America spokesman Bill Halldin told The Federalist, “We’re not changing our policy, because we never refuse to provide service based on religious or political beliefs.”
In an emailed statement, Halldin reiterated, “We serve more than 70 million clients and we welcome conservatives. We are required to follow extensive government rules and regulations that sometimes result in requirements to exit client relationships. We never close accounts for political reasons and don’t have a political litmus test.”
Alliance Defending Freedom’s 2024 Viewpoint Diversity Score Business Index found that 69 percent of large financial companies’ policies allow them to deny service...
(Excerpt) Read more at thefederalist.com ...
“...we never refuse to provide service based on religious or political beliefs.”
Oh, the convoluted minds and sociopathy of liberals.
CONgress can just REVOKE their Corporate Charter and BAN them from the Federal Reserve System if they really wanted to show them who their Daddy is.
What about gun purchases? Discovery will be fun.
Daddy has arrived and he’s taking off his belt - Mel Gibson
I agree with Bank of America as I really doubt they give a crap as to who is running the Tea Party or the Oswego Operation Rescue.
But they will do ANYTHING the that federal government tells them to do, and I have NO DOUBT that there exists a “Debanking List” that goes to every bank (may just be SS and Taxpayer Numbers) that the banks are required to check against for active and future accounts. I doubt Bank of America has any clue as to who 98% of the people are...so they are not technically lying when they say they don’t debank because of politics.
Also, Bank of America happens to be the biggest, so they’ll have the most people complaining...but they’re complaining to the wrong people.
The way to get to the bottom of this is to put the Band of America people UNDER OATH in Congressional Hearings, and then see what they have to say.
I work for a large NY area bank, (not BofA). The predictable outcome of this will be BofA agreeing to a Consent Order with the FRB or OCC, paying a very large fine, in the $100M or higher range, and then enhancing their controls to supposedly prevent this from happening again.
How do they know what you or your religion is? Is there a checkbox somewhere on one of their credit forms? Like “Are you now or have you ever been a _____”?
‘Rather Despicable’: John Eastman Speaks Out After Bank Of America, USAA Shut Down His Accounts (Apr 16, 2024)
https://dailycaller.com/2024/04/16/john-eastman-donald-trump-attorney-debanked-bank-of-america-usaa/
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