Trump Issues Warning to Top Banking CEO Who 'De-Banked' Conservatives
During President Donald Trump‘s speech to the World Economic Forum on Thursday, he called out Bank of America CEO Brian Moynihan, accusing him de-banking conservatives.
“You’ve done a fantastic job, but I hope you start opening your bank to conservatives because many conservatives complain that the banks are not allowing them to do business within the bank — and that included a place called Bank of America… They don’t take conservative business,” Trump told Moynihan during a question and answer session.
“And I don’t know if the regulators mandated that because of [President Joe] Biden or what,” Trump continued.
“But you and [JPMorgan CEO Jamie Dimon] and everybody – I hope you’re going to open your banks to conservatives because what you’re doing is wrong.”
Moynihan did not respond to Trump’s remarks, instead telling the president that Bank of America looks forward to sponsoring the World Cup when it comes to the U.S.
Watch
However, a spokesperson for the Bank of America denied they had closed accounts for political reasons and said they “welcome conservatives.”
“We serve more than 70 million clients and we welcome conservatives,” the spokesperson told FOX Business.
READ: Trump Drives Stake Through Heart of Globalism in Stunning Speech to WEF Elites
“We are required to follow extensive government rules and regulations that sometimes result in decisions to exit client relationships. We never close accounts for political reasons and don’t have a political litmus test.”
In a statement, a JPMorgan spokesperson said the bank would “never close an account for political reasons, full stop.”
“We follow the law and guidance from our regulators and have long said there are problems with the current framework that Washington must address.”
“We welcome the opportunity to work with the new Administration and Congress on ways to remove regulatory ambiguity while maintaining our country’s ability to address financial crime,” the spokesperson said.
Despite the bank’s claims, they have faced multiple allegations of discriminating against conservatives. They were called out in a letter from Attorneys general from 15 states for their de-banking efforts against Conservatives.
Steve Curtis, founder of Timothy Two Project International, revealed his organization’s experience with Bank of America.
Curtis said his organization received a letter in 2020 from the bank telling him his account would be closed.
“We had people all over the world,” Curtis stressed. “We travel a lot and we need these cards in the field. And so, it had the potential to be very disruptive for us,” he continued.
Curtis said the bank failed to provide a reason for closing the account, just saying his organization was “engaged in a type of business that they had chosen not to service.”
Bank of America denied the claims, saying, “Religious beliefs are not a factor in any account-closing decision. We are proud to provide banking services to non-profit organizations affiliated with diverse faith communities throughout the United States.”
Last year, the Bank of America was named as one of the multiple Wall Street banks that allegedly discriminated against the firearms industry.
The American Accountability Foundation issued a report, titled “Debanked by the Banks,” exposing the the biggest names on Wall Street – including Goldman Sachs, Wells Fargo and Bank of America, who used their control over capital to undercut firearms manufacturers, and organizations representing lawful gun owners.
READ: Trump Tells Hannity Biden May Not Escape Hammer of Justice: “He Didn’t Give Himself a Pardon”