A dozen Republican-led states plan to send a letter to Bank of America demanding an explanation for why it allegedly debanked Christian and other conservative groups.
The letter first obtained by DailyMail.com, led by Kansas Attorney General Kris Kobach, demands that the financial institution turn over documents related to its account cancellation policies and requests that the bank update its terms of services to not discriminate against clients with certain political interests or religious beliefs.
The notice comes after it was revealed that Bank of America sent private consumer financial data to the FBI and the U.S. Treasury to help the agencies investigate crimes related to the Jan. 6 riot at the Capitol.
“Unfortunately, Bank of America appears to be conditioning access to its services on customers holding the bank’s preferred religious or political views,” Kobach writes in the letter to Bank of America CEO Brian Moynihan, obtained by DailyMail.com.
“Their discriminatory behavior is a serious threat to freedom of expression and religious freedom, is potentially illegal and is provoking a political and regulatory backlash.”
Bank of America sent customers’ private financial data to federal officials to help them investigate crimes related to the January 6, 2021 Capitol riot.
The House Judiciary Committee revealed in January that U.S. Treasury officials circulated a memo instructing financial institutions how to spot indicators of extremism, such as purchasing trips to Washington, D.C., or religious texts around December 6. January 2021.
“Your bank must be transparent and assure us, its shareholders and others that it will not continue to unbank customers because of its religious speech or exercise.”
The letter is co-signed by officials from Alaska, Arkansas, Indiana, Iowa, Mississippi, Missouri, Montana, Nebraska, South Carolina, Texas and Utah.
“Religious beliefs are not a factor in any account closure decision,” a Bank of America representative told DailyMail.com.
“We are proud to provide banking services to nonprofit organizations affiliated with diverse faith communities throughout the United States.”
But the memo details several cases of apparent discrimination against Christian groups where Bank of America canceled their accounts.
Specifically, the letter points out how the financial institution debanked Christian ministry groups Timothy Two Project International, Indigenous Advance and the Memphis, Tennessee-based church Servants of Christ.
Kobach writes that Bank of America terminated the Timothy Two Project account for “operating a type of business that we have chosen not to serve.”
He also wrote that Indígena Advance also had its account canceled because, the bank claims, it “no longer aligns with the bank’s risk tolerance.”
Bank of America, however, told DailyMail.com that Indigenous Advance operates a business in Uganda and that the bank does not “serve small businesses operating outside of the United States.”
Servants of Christ’s account was terminated because “it was the wrong type of business,” the Kansas Attorney General wrote.
Kobach added that the debanking carried out by Bank of America could be illegal.
“Bank of America exposes itself to numerous legal risks by debanking,” the letter states.
“It is opening itself up to potential legal liability under consumer protection and anti-discrimination laws, and creating substantial regulatory and political risk from states that are already taking steps to stop debanking.”
“Financial institutions are setting the stage for politicized debanking by adopting vague and subjective ‘reputational risk’ policies and ‘hate’ bans that are susceptible to abuse.”
The letter comes as the House Select Subcommittee on the Arming of the Federal Government has investigated several institutions’ relationships with federal officials.
It was previously revealed that transactions at Bass Pro Shops and Dick’s Sporting Goods around the time of the Jan. 6 Capitol protests could be indicators of “extremism,” according to a U.S. Treasury memo distributed to banks.
Crowdfunding sites GoFundMe and Eventbrite have also been the subject of House investigations.
The committee’s investigations remain ongoing.
Currently, Bank of America is the second largest bank in the United States and manages more than 3 trillion dollars.
Although federal officials did not force financial institutions to hand over their customers’ private transaction data, Bank of America voluntarily provided it to them.
“It appears they are using this power to punish conservative and religious customers, turning over their data to federal authorities and even canceling their accounts,” Kobach writes.
“This not only undermines free speech and religious freedom, but is also potentially illegal and could lead to investigations, litigation, regulations and political backlash.”
The attorneys general request a response from Bank of America within 30 days of receiving the letter.
It is expected to be sent to the bank on Tuesday.