Bank of America discriminates
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In a letter signed by Kansas Attorney General Kris Kobach and other Republican lawmakers, Bank of America (BofA) was accused of potential discrimination against Christians.
Cancellation policies
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The letter urged BofA to provide documents regarding its account cancellation policies and requested that the bank revise its terms of service to prevent discrimination against clients with specific political or religious views.
Whistleblower’s
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Last year, it was reported on a whistleblower’s claim that BofA shared private consumer information with the FBI during their investigation into crimes related to the January 6 Capitol Hill riot.
Unfortunately
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“Unfortunately, Bank of America appears to be conditioning access to its services on customers having the bank’s preferred religious or political views,” Kobach wrote in the letter to Bank of America CEO Brian Moynihan.
Discriminatory
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“Your discriminatory behavior is a serious threat to free speech and religious freedom, is potentially illegal, and is causing political and regulatory backlash,” he added. “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.”
Republican officials
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Alaska, Arkansas, Indiana, Iowa, Mississippi, Missouri, Montana, Nebraska, South Carolina, Texas, and Utah Republican officials joined Kris Kobach in signing the letter.
De-banking
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Kobach pointed out various instances where Bank of America was accused of discriminating against Christians, including the de-banking of Christian ministry groups like Timothy Two Project International, Indigenous Advance, and the Servants of Christ. Bank of America has refuted these claims.
Religious beliefs
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“Religious beliefs are not a factor in any account-closing decision,” a rep from BofA told the Daily Mail. “We are proud to provide banking services to non-profit organizations affiliated with diverse faith communities throughout the United States.”
Terminated
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Additionally, Bank of America stated that it terminated its business relationship with Indigenous Advance due to its operations in Uganda, clarifying that the bank does not cater to small businesses operating beyond the United States. In the letter, Kobach suggested that Bank of America’s actions could potentially constitute unlawful behavior.
Legal risks
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“Bank of America is exposing itself to numerous legal risks by engaging in de-banking,” Kobach wrote. “It is opening itself up to potential legal liability under consumer protection and anti-discrimination laws, and creating substantial regulatory and political risk from states that are already taking action to stop de-banking.”
