A dozen Republican-led states plan to send a letter to Bank of America asking for an explanation for why it reportedly divested Christian and other conservative groups from the bank.
The letter, first obtained by DailyMail.com, led by Kansas Attorney General Kris Kobach, demands that the financial institution turn over documents related to its account cancellation policy and requests that the bank update terms of service to not discriminate against customers based on certain political or political issues. religious beliefs.
The news comes after it was revealed that Bank of America sent the FBI and the U.S. Treasury Department financial data from private consumers to help the agencies investigate crimes related to the Jan. 6 Capitol protest.
“Unfortunately, Bank of America appears to be conditioning access to its services on customers with the bank’s preferred religious or political views,” Kobach wrote in the letter to Bank of America CEO Brian Moynihan, obtained by DailyMail.com.
“Your discriminatory behavior poses a serious threat to freedom of expression and religion, may be illegal, and will provoke political and regulatory backlash.”
Bank of America sent customers’ private financial information to federal officials to help them investigate crimes related to the January 6, 2021 Capitol protest
The House Judiciary Committee revealed in January that U.S. Treasury Department officials distributed a memo around Jan. 6, 2021, instructing financial institutions on how to spot indicators of extremism, such as purchasing trips to Washington, D.C., or religious texts.
“Your bank must be transparent with us, its shareholders and others and assure us, its shareholders and others that it will not continue to exclude customers because of their statements or religious practices.”
The letter was co-signed by officials from Alaska, Arkansas, Indiana, Iowa, Mississippi, Missouri, Montana, Nebraska, South Carolina, Texas and Utah.
“Religious beliefs play no role in an account closure decision,” a Bank of America representative told DailyMail.com.
“We are proud to provide banking services to nonprofit organizations affiliated with diverse faith communities across the United States.”
But the memo describes several cases of apparent discrimination against Christian groups in which Bank of America canceled their accounts.
In particular, the letter notes how the financial institution unbanked 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’s account was canceled by Bank of America for “operating a type of business that we do not intend to serve.”
He also wrote how Indigenous Advance’s account was similarly closed because, the bank claims, it is “no longer consistent with the bank’s risk tolerance.”
However, Bank of America told DailyMail.com that Indigenous Advance operates a business in Uganda and that the bank “does not serve small businesses operating outside the United States.”
Servants of Christ’s account was canceled because it was “the wrong ‘business type,'” the Kansas attorney general wrote.
Kobach added that Bank of America’s de-banking could be illegal.
“Bank of America exposes itself to numerous legal risks by engaging in de-banking,” the letter said.
“It opens itself up to potential legal liability under consumer protection and anti-discrimination laws, and creates significant regulatory and political risks for states that are already taking action to stop debanking.”
“Financial institutions have set the stage for politicized banking by adopting vague and subjective ‘reputation risk’ policies and a ban on ‘hate’ that is open to abuse.”
The letter comes as the House Select Subcommittee on the Weaponization of the Federal Government has been examining several agencies’ relationships with federal officials.
It was previously revealed that transactions at Bass Pro Shops and Dick’s Sporting Goods around the time of the Jan. 6 Capitol protests could be indicators of “extremism,” according to a U.S. Treasury Department memo distributed to banks.
Crowdfunding sites GoFundMe and Eventbrite have also both been the subject of House investigations.
The commission’s investigations are still ongoing.
Currently, Bank of America is the second largest bank in the US, handling more than $3 trillion.
Although federal officials did not force financial institutions to convert their customers’ private transaction data, Bank of America voluntarily provided it to them
“You appear to be using this power to punish conservative and religious customers by handing over their information to federal law enforcement and even canceling their accounts,” Kobach wrote.
“This not only undermines freedom of speech and religion, but is also potentially illegal and could lead to investigations, lawsuits, regulation and political backlash.”
The attorneys general are asking for a response from Bank of America within thirty days of receiving the letter.
It is expected to be sent to the bank on Tuesday.