Current location:business >>
Bank of America accused of religious and political 'discrimination' by 'de
business13186People have gathered around
IntroductionA dozen Republican-led states plan to send a letter to Bank of America demanding an explanation for ...
A dozen Republican-led states plan to send a letter to Bank of America demanding an explanation for why it allegedly de-banked Christian and other conservative groups.
The letter obtained first by DailyMail.com, led by Kansas Attorney General Kris Kobach, demands that the financial institution turn over documents related to its account cancellation policies and requested that the bank update its terms of services to not discriminate against clients with certain political or religious beliefs.
The notice comes after it was revealed that Bank of America sent the FBI and U.S. Treasury private consumer financial data to help the agencies investigate crimes related to the January 6 Capitol protest.
'Unfortunately, Bank of America appears to be conditioning access to its services on customers having the bank's preferred religious or political views,' Kobach writes in the letter to Bank of America CEO Brian Moynihan obtained by DailyMail.com.
'Your discriminatory behavior is a serious threat to free speech and religious freedom, is potentially illegal, and is causing political and regulatory backlash.'
Bank of America sent the private financial data of customers to federal officials to help them investigate crimes related to the January 6, 2021 Capitol protest
The House Judiciary Committee revealed in January that officials at the U.S. Treasury circulated a memo instructing financial institutions how to spot extremism indicators like purchasing travel to Washington, D.C. or religious texts around the time of January 6, 2021
'Your bank needs to be transparent with and assure us, its shareholders, and others that it will not continue to de-bank customers for their speech or religious exercise.'
The letter is co-signed by officials from Alaska, Arkansas, Indiana, Iowa, Mississippi, Missouri, Montana, Nebraska, South Carolina, Texas and Utah.
'Religious beliefs are not a factor in any account-closing decision,' a representative for Bank of America told DailyMail.com.
'We are proud to provide banking services to non-profit organizations affiliated with diverse faith communities throughout the United States.'
But the memo details several instances of apparent discrimination against Christian groups where Bank of America canceled their accounts.
Specifically, the letter notes how the financial institution de-banked the Christian ministry groups Timothy Two Project International, Indigenous Advance and the Memphis, Tennessee-based church Servants of Christ.
Kobach writes that the Timothy Two Project had its account cancelled by Bank of America for 'operating a business type we have chosen not to service.'
He also wrote how Indigenous Advance similarly had its account canceled because, the bank claims, it 'no longer aligns with the bank's risk tolerance.'
Bank of America, however, told DailyMail.com that Indigenous Advance operates a business in Uganda and the bank does not 'serve small businesses operating outside the United States.'
Servants of Christ had its account cancelled because it 'was the wrong 'business type,'' the Kansas Attorney General wrote.
Kobach added that the de-banking carried out by Bank of America could be illegal.
'Bank of America is exposing itself to numerous legal risks by engaging in de-banking,' the letter states.
'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 has probed several institution's relationships with the federal officials.
It was previously revealed that transactions at Bass Pro Shops and Dick's Sporting Goods around the time of the January 6 Capitol protests could be indicators of 'extremism,' according to a U.S. Treasury memo circulated to banks.
Crowdfunding sites GoFundMe and Eventbrite have also both been the subject of House investigations.
The committee's probes remain ongoing.
Currently, the Bank of America is the second-largest bank in the U.S., handling over $3 trillion.
Though federal officials did not force financial institutions to turnover their customers' private transaction data, Bank of America provided it to them willingly
'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 writes.
'This not only undermines free speech and religious freedom, but also is potentially illegal and could lead to investigations, litigation, regulation, and political backlash.'
The attorneys general are requesting a response from Bank of America within 30 days of receiving the letter.
It is expected to be sent to the bank on Tuesday.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“International Iterations news portal”。http://www.videocameralive.com/html-11a399645.html
Related articles
Chinese defense minister holds video call with US counterpart
businessChinese Defense Minister Dong Jun held a video call with U.S. Defense Secretary Lloyd Austin on Tues ...
【business】
Read moreComposer's memories help shape the future
businessXue Tingzhe can still recall his first piano lesson with his Japanese teacher when he was 6, after h ...
【business】
Read moreCanada announces 15 participants in NATO defence innovation hub
businessOTTAWA, March 15 (Xinhua) -- The Canadian federal government on Friday announced 15 participants in ...
【business】
Read more
Popular articles
- At least 15 killed in Israeli airstrikes on Rafah
- Eagles lock in WR DeVonta Smith with 3
- Nadal says he's 'ready enough' to play in his last Barcelona Open
- Chinese online literature starts new chapter overseas
- Chinese military ready to boost ties with Indonesian counterpart: defense spokesperson
- CBA Roundup: Liaoning beat Xinjiang, Golden Bulls bag 8th straight win
Latest articles
Finnish carrier suspends Estonia flights after GPS interference prevents 2 landings
Alicia Keys is on fire in a stunning gold dress alongside husband Swizz Beatz as they joins A
Students from United States and Fuzhou University visit Kuliang in SE China's Fujian
Godzilla teams up with Kong for new colossal fight
Songs of celebration hail anniversary
Nadal says he's 'ready enough' to play in his last Barcelona Open
LINKS
- Medical Experts Provide Free Medical Services for Villagers in S China's Guangxi
- Chinese Dream Inspires Nation on Journey Ahead
- Chinese Prosecutors Protect Senior Citizens from Fraud
- China to Resume Passport, Visa Issuance from Jan. 8, 2023
- Villagers Get Access to Medical Treatment in Rural Areas in East China's Shandong
- Media Center for 20th CPC National Congress to Open on Oct. 12
- China Surges to Straight
- 2022 China (Hainan) Int'l Tropical Agricultural Products Winter Trade Fair Kicks Off
- New Areas for Growth to Keep Employment Stable
- Output of Tibet's Culture Industry Grows Fourfold over Decade