Staff Reports
Accusations have been hurled at Bank of America, alleging discriminatory practices targeting customers based on their political or religious affiliations. During a recent shareholder gathering, a chorus of voices accused the bank of bias against conservative and Christian groups, urging an internal probe to unearth the extent of this purported bias.
Systemic and systematic globalist discrimination against Christians and other opponents of Woke/DEI/ESG ideologies? 🤔
20240425 Epoch Times
"Shareholders, State Officials Allege Political, Religious Discrimination by Bank of America""… a shareholder group accused the bank… pic.twitter.com/0nZq32lbzk
— honor6x.des 🇺🇸🇩🇪🇮🇱🚜 (@Honor6xD) April 25, 2024
Jeremy Tedesco, the senior counsel at the Alliance Defending Freedom, underscored the urgency for banks to rebuild public trust by fostering transparency regarding the issue of "de-banking" predicated on political ideologies. Tedesco stressed that shedding light on such practices is paramount for restoring faith in financial institutions.
Adding to the clamor, state attorneys general and treasurers voiced apprehensions over the bank's conduct. Indiana State Treasurer Daniel Elliott voiced concern over potential discrimination, asserting that such practices contradict the ethos of American business.
Bank of America swiftly refuted the allegations, asserting that religious beliefs do not factor into their decisions to close accounts. Despite the accusations, only a fraction of the bank's shareholders supported a proposal to scrutinize its practices.
Further compounding the bank's woes, attorneys general from 15 states penned a scathing missive accusing Bank of America of tethering access to its services to customers adhering to the bank's preferred political or religious doctrines. The missive highlighted concerns over account closures affecting Christian ministries and the bank's stance on contentious issues like gun control.
Taking decisive action, Tennessee Governor Bill Lee signed legislation prohibiting large financial institutions and insurance companies from engaging in political or religious discrimination against state residents. Additionally, the state enacted measures to curtail the tracking of firearm purchases by credit card companies and payment service providers. These allegations and subsequent actions by state officials cast a spotlight on the contentious issue ofpolitical and religious discrimination within the corridors of major financial institutions.
