Bank of America Accused Of Discriminating Against Conservative Customers

A group of 15 state financial officers from 13 states has sent a letter to Bank of America CEO Brian Moynihan expressing their concerns over the bank’s alleged practice of “de-banking” conservative customers. The letter accuses the major banking institution of taking actions that threaten the civil liberties of Americans and harm the bank’s reputation with customers and the nation’s economy.

“We are especially troubled by Bank of America’s track record of discriminating against religious ministries” the letter stated citing examples such as the Memphis-based charity Indigenous Advance Ministries the Timothy Two Project and Christian author and speaker Lance Wallnau.

According to the letter Bank of America closed the account of Timothy Two Project International which trains pastors in several countries around the world claiming that the group was “operating a business type we have chosen not to service.” In follow-up letters the bank stated that Timothy Two Project International “no longer aligns with the bank’s risk tolerance.”

Kentucky State Auditor Allison Ball one of the signatories told Fox News that the practice of “de-banking” has become “all too common” in the United States. “Americans should never have to worry that their personal financial decisions will be weaponized against them. This practice has become all too common and banks must urgently course correct to uphold their fiduciary duty and safeguard the constitutional freedoms of Americans” she said.

The letter also highlighted instances of other banks engaging in similar actions such as Minnesota Bank closing all of MyPillow CEO Mike Lindell’s accounts without warning causing serious harm to his business. Lindell’s online merchant server also closed his accounts for a charity he runs to help recovering addicts.

The issue of “de-banking” conservatives has been a topic of discussion among political commentators. Daily Wire host Ben Shapiro previously called out Chase Bank for similar actions taken against the Proud Boys arguing that “we are in real trouble as a country if banks are going to start rejecting your ability to do business based on political disagreement.”

It remains unclear whether any substantial legislative change is being sought to address the increasing occurrence of “de-banking” in the U.S. However the issue is of significant importance and should be dealt with promptly to protect First Amendment rights.