Bank of America is facing serious accusations of involvement in discrimination based on politics, religion, and ideology (i.e., speech expressing this), with the targets of “debanking” allegedly being some Christian churches as well as supporters of Donald Trump.
These suspicions are expressed by over a dozen attorney-generals from Republican states who are behind a letter sent to Bank of America CEO Brian Moynihan, looking for answers – and documents – related to the accusations.
The initiative follows revelations that Bank of America was turning over financial data belonging to clients to the FBI and the Treasury, as they investigated January 6 suspects.
Kansas AG Kris Kobach is leading the effort now, which centers on clarifying, by providing the relevant documents, the policy based on which the bank cancels some accounts. AGs from Alaska, Arkansas, Indiana, Iowa, Mississippi, Missouri, Montana, Nebraska, South Carolina, Texas, and Utah also signed the letter.
Another point made in it is that the bank’s policies must be updated to make sure that going forward, clients don’t continue to be discriminated against because of their politics or religion.
According to Kobach, the bank is imposing its own “preferred” political and religious stances when allowing clients access to services.
“Your discriminatory behavior is a serious threat to free speech and religious freedom, is potentially illegal, and is causing political and regulatory backlash,” reads the letter.
Kobach and the co-signers warned that Bank of America must assure both them and its shareholders in a transparent way that clients will no longer be “debanked” simply because of their opinions and beliefs.
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