Over a dozen Republican attorneys general have warned Bank of America about alleged “de-banking” practices targeting customers based on their religious or political beliefs. The attorneys general, led by Kansas Attorney General Kris Kobach, accused the bank of conditioning access to its services on customers sharing the bank’s preferred views. Bank of America denied the claims, stating that religious beliefs are not a factor in account-closing decisions and they are proud to provide services to diverse faith communities. However, the AGs claim that the bank has previously denied services to certain groups, including gun manufacturers, fossil-fuel producers, and contractors for ICE and private prisons.
The letter from the attorneys general also referenced news reports that Bank of America cooperated with federal authorities to profile conservative and religious Americans as potential domestic terrorists. The AGs criticized the bank’s practice of canceling accounts and sharing customer information with law enforcement as discriminatory, potentially illegal, and a violation of constitutional rights. Bank of America stated that they followed all applicable laws in their interactions with federal agencies and that the information sharing was done in response to potential criminal activity related to the presidential inauguration.
The attorneys general raised concerns about Bank of America’s willingness to cooperate in the infringement of customers’ constitutional and privacy rights. They cited a report from the House Judiciary Subcommittee that found the bank willingly participated in financial surveillance and shared confidential customer information without warrants or customer notification. The AGs, representing states including Mississippi, Idaho, Iowa, and Texas, called on the bank to provide a written report on its account-cancellation policies and update its terms of service to ensure customers are not discriminated against based on their religious or political views.
Bank of America denied the AGs’ claims and stated that they have cooperated with federal authorities within the boundaries of the law. The bank emphasized that their interactions with the Trump Administration’s Treasury Department were in response to potential criminal activity that could disrupt the presidential inauguration. However, the attorneys general argued that the bank’s actions undermine free speech and religious freedom and could potentially lead to investigations, litigation, regulation, and political backlash. They urged the bank to address concerns about account-cancellation policies and practices, as well as update terms of service to protect religious and political diversity.
The attorneys general highlighted Bank of America’s significant role as one of the largest banks in the country, with nearly 15% of all domestic deposits. They expressed concerns about the bank using its power to target conservative and religious customers by sharing their data with law enforcement agencies and canceling their accounts. The AGs emphasized the importance of protecting free speech and religious freedom within their respective states and called on the bank to uphold these principles in its policies and practices. They warned that discriminatory behavior could result in further legal action or regulatory backlash against Bank of America.
