State financial officers put Bank of America on notice for allegedly ‘de-banking’ conservatives – By Thomas Catenacci (Fox News) / April 18, 2024
‘Americans should never have to worry that their personal financial decisions will be weaponized against them,’ Kentucky state auditor says
A group of 15 financial officers representing 13 states issued a warning to Bank of America over its alleged practices of “politicized de-banking” targeting conservatives.
In a letter to Bank of America CEO Brian Moynihan, the officials said the bank’s practices threaten its own financial health and reputation with customers while simultaneously harming the U.S. economy and Americans’ civil liberties. They pointed to examples of Bank of America shuttering the accounts belonging to Christian groups and leaders and joining a net-zero climate alliance in addition to its poor viewpoint diversity rating.
“Americans should never have to worry that their personal financial decisions will be weaponized against them,” Kentucky State Auditor Allison Ball said in a statement. “This practice has become all too common, and banks must urgently course correct to uphold their fiduciary duty and safeguard the constitutional freedoms of Americans.”
She blasted executives at financial institutions for taking advantage “of the divided political climate to engage in politicized de-banking.”
