15 financial officials from 13 states sent a letter to Bank of America, expressing concerns about the institution’s practice of “de-banking” Christians.
“We write to express our concerns over Bank of America’s troubling track record of politicized de-banking,” the letter penned by the officials began.
15 State Officials Warn Bank Of America About 'De-Banking' Of Christians https://t.co/2x5X2CKkfR
— zerohedge (@zerohedge) April 21, 2024
“Bank of America’s de-banking policies and practices threaten the company’s financial health, its reputation with customers, our nation’s economy, and the civil liberties of everyday Americans,” it continued.
The letter, which was sent to the bank’s CEO Brian Moynihan, highlighted three notable examples of organizations and individuals de-banked by Bank of America. These included Memphis-based charity Indigenous Advance Ministries, the Timothy Two Project, and Christian author and speaker Lance Wallnau.
“We are especially troubled by Bank of America’s track record of discriminating against religious ministries,” the letter stated.
The officials who signed the letter include Alabama Auditor Andrew Sorrell; Arizona Treasurer Kimberly Yee; Indiana Comptroller Elise Nieshalla; Indiana Treasurer Dan Elliott; Kansas Treasurer Steven Johnson; Kentucky Auditor Allison Ball; Louisiana Treasurer John Fleming; Mississippi Treasurer David McRae; Nebraska Auditor Mike Foley; Nebraska Treasurer Tom Briese; Nevada Controller Andy Mathews; North Dakota Treasurer Thomas Beadle; Oklahoma Treasurer Todd Russ; South Carolina Treasurer Curtis Loftis; Utah Treasurer Marlo Oaks.
Zero-hedge highlighted that in April 2023 Bank of America closed the account of Indigenous Advance Ministries, a Christian organization that partners with on-the-ground groups in Uganda to care for orphaned and at-risk children, educate vulnerable children and prisoners, combat s*x trafficking, and fulfill other essential needs.
The outlet says the bank cited “vague reasons” for closing these accounts, stating that the organization’s activities surpassed the institution’s “risk tolerance” and that it no longer wished to cater to its “business type.”
The letter explained, “Months later—after being confronted by an international media organization—the bank then claimed that it closed the accounts because the for-profit business engaged in ‘debt collection.’ Neither Indigenous Advance Ministries nor the church collect debts, nor was the bank able to point to any policy prohibiting account holders from engaging in such activities.”
“In other words that rationale was a ruse, and even if legitimate, would only apply to one of the closed accounts,” it continued.
Bank of America is being accused of closing the accounts of certain high-profile Rightwingers.
15 state Attorney Generals have written a letter to B of A's CEO warning that closing accounts due to a person's religious or political affiliation could be a serious violation of…
— Dave Champion, Ph.D. – aka Dr Reality (@DrReality5) April 20, 2024
Zero-hedge also recapped when in 2022 the bank closed the account of Timothy Two Project International, an organization that trains pastors in over 65 nations.
In a letter to the group, the bank stated that the closure was because Timothy Two operated “a business type we have chosen not to service.”
Bank of America also froze the accounts of author Mr. Wallnau that year, alleging suspicions of money laundering, even though the bank did not offer any evidence to support these accusations.
The bank would eventually reopen the account, however, it demanded Mr. Wallnau respond to a series of invasive questions.
The state officials also highlighted in their letter that Bank of America collaborates with anti-Christian radical left-wing organizations like the Human Rights Campaign and the Center for American Progress, yet they decline to match donations for employees who wish to contribute to Christian charities.
The “de-banking” of Christians and conservatives is terribly concerning as it mirrors the tactics of every communist regime over the past 150 years
If you speak out against the regime, they’ll remove your economic access. Conformity is their goal.https://t.co/EJRZNEcq9f
— Michael Seifert (@realmichaelseif) April 22, 2024
Rep. Jim Jordan (R-OH) has also revealed Bank of America’s high level of cooperation with federal authorities, providing lists and information on individuals whom the FBI may suspect of being “domestic extremists.”
This category notably encompasses devoutly religious Americans, such as Catholics who attend Latin Mass.
