In a letter led by Kansas Attorney General Kris Kobach, the dozen some-odd "red" states asked the financial institution to release all documents related to its account cancellation policies. The letter also petitions Bank of America to update its terms of service to prohibit discrimination against clients based on their political or religious affiliation.
The issue came to a head after it was revealed that Bank of America sent the FBI and the U.S. Treasury private consumer financial data to help the two federal agencies investigate crimes related to the January 6 "insurrection" at the United States Capitol.
"Unfortunately, Bank of America appears to be conditioning access to its services on customers having the bank's preferred religious or political views," Kobach's letter, addressed to Bank of America CEO Brian Moynihan, reads.
"Your discriminatory behavior is a serious threat to free speech and religious freedom, is potentially illegal, and is causing political and regulatory backlash."
Kobach's letter is co-signed by officials from the states of Alaska, Arkansas, Indiana, Iowa, Mississippi, Missouri, Montana, Nebraska, South Carolina, Texas and Utah.
(Related: Back in 2012, we reported that Bank of America was engaged in a blatant home loan fraud scheme.)
Financial discrimination
In a statement to the Daily Mail Online (United Kingdom), Bank of America claimed that "religious beliefs are not a factor in any account-closing decision."
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"We are proud to provide banking services to non-profit organizations affiliated with diverse faith communities throughout the United States," the bank further added.
The letter's signatories disagree with this claim, stating that Bank of America de-banked two Christian ministry groups, Timothy Two Project International and Indigenous Advance, as well as the Memphis, Tenn.-based church Servants of Christ.
According to Kobach, Timothy Two Project International had its account canceled by Bank of America for "operating a business type we have chosen not to service." A similar thing happened to Indigenous Advance, which had its account canceled because the group's operation "no longer aligns with the bank's risk tolerance."
According to Bank of America, the reason for Indigenous Advance's cancellation is that it operates a business in Uganda, and the bank does not "serve small businesses operating outside the United States."
As for Servants of Christ, its Bank of America account was cancelled because it was deemed to be "the wrong 'business type,'" according to Kobach.
"Bank of America is exposing itself to numerous legal risks by engaging in de-banking," Kobach's letter continues. "It is opening itself up to potential legal liability under consumer protection and antidiscrimination laws, and creating substantial regulatory and political risk from states that are already taking action to stop debanking."
"Financial institutions set the stage for politicized de-banking by adopting vague and subjective 'reputational risk' policies and prohibitions on 'hate' that are susceptible to abuse."
The letter comes as the House Select Subcommittee on the Weaponization of the Federal Government continues to probe numerous institutions that have a relationship with federal officials.
A U.S. Treasury memo that circulated to banks around the time of the January 6 "insurrection" also pegged Bass Pro Shops and Dick's Sporting Goods as engaging in transactions that possibly showed signs of "extremism," the suggestion being that they, too, needed to be canceled.
House investigations are also ongoing into the crowdfunding sites GoFundMe and Eventbrite, both of which were pegged as having possible involvement in "extremism."
"You appear to be using this power to punish conservative and religious customers by handing their data over to federal law enforcement and even cancelling their accounts," Kobach further said to Bank of America.
"This not only undermines free speech and religious freedom, but also is potentially illegal and could lead to investigations, litigation, regulation, and political backlash."
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