President Donald Trump on Thursday criticized Bank of America chief Brian Moynihan for allegedly “debanking” conservatives because of their political beliefs during a speech at the World Economic Forum. He harshly criticized the CEO.
Bank of America closed the bank accounts of conservatives, including constitutional law professor John Eastman, and disclosed customer data in the wake of the riot at the U.S. Capitol on January 6, 2021. He has been criticized for handing over the case to the FBI. Moynihan, who was attending the World Economic Forum in Davos, Switzerland, asked President Trump about inflation after his remarks in a video appearance. (Related: Alan Dershowitz outlines why he thinks lawsuit against Donald Trump's lawyers should not proceed)
“By the way, you and yours have done a great job, but because a lot of conservatives have complained that banks don't allow transactions inside their banks, including a place called , I hope you start opening up your banks to conservatives, “Bank of America,'' President Trump said. “They don’t like conservative business, and I don’t know if regulators mandated it because of Biden, but you and your [J.P. Morgan Chase CEO] jamie [Dimon] And I hope you guys open up your banks to conservatives, because what you guys are doing is wrong. ”
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Bank of America has suspended Mr. Eastman's accounts while he faces disciplinary proceedings in California over legal advice he provided to Mr. Trump as he sought to contest the results of the 2020 presidential election. It is said to have been closed. The bank also allegedly closed the Ministry of Indigenous Peoples' Progress account in 2023, refusing to explain why.
“We serve more than 70 million customers, and we welcome conservatives,” a Bank of America spokesperson told the Daily Caller News Foundation. “We must comply with extensive government rules and regulations, which may result in the decision to terminate our relationship with a customer. We will never close an account for political reasons. There is no political litmus test.”
In 2022, JPMorgan Chase closed the accounts of the National Committee for Religious Freedom, an organization led by former Ambassador Sam Brownback, and demanded disclosure of its donors.
A JPMorgan Chase spokesperson told DCNF: “We have never and never will close any accounts for political reasons.” “We follow the law and regulatory guidance and have long maintained that the current framework has issues that the U.S. government must address. We welcome the opportunity to work with the new administration and Congress on ways to remove ambiguity.”
first lady melania trump I wrote In her memoir, she said she and her son Barron had their bank accounts canceled, but did not name the financial institution that closed them.
House Judiciary Committee Subcommittee on Weaponization of the Federal Government A summons was issued Bank of America is seeking records regarding its decision to turn over information about purchases made in the D.C. area at the time of the Jan. 6, 2021, Capitol riot.
Florida and Tennessee passed laws in 2024 that would prohibit banks from closing bank accounts based on political or religious beliefs. According to Go to Politico. 15 Republican state attorneys general send letter to Bank of America warning of religious discrimination over alleged 'bank cancellation' in April 2024, Fox News reported.
The White House did not immediately respond to a request from DCNF for specific examples of “debunking.”
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