Bank of America Faces Scrutiny as 15 Attorneys General Probe Alleged Account Closures Based on Religious and Political Views

Fifteen state attorneys general are actively questioning Bank of America regarding alleged account closures based on customers’ religious and political beliefs. 

Led by Jason S. Miyares, Virginia’s Attorney General, this Republican coalition accuses the bank of “viewpoint-based debanking,” asserting that Bank of America has a history of unbanking clients due to their religious or political ideologies. The coalition demands a written report on the bank’s account policies, explicit confirmation of non-discrimination based on views or speech, and the removal of “intolerance” and “hate” prohibitions from its online banking service agreement. 

Miyares emphasizes the need for Bank of America to rectify discriminatory practices to avoid potential legal consequences. AGs from fifteen states join Miyares in raising concerns about the bank’s actions, citing previous instances of debanking against various industries and criticizing Bank of America’s alleged “racial reeducation program” for employees. The AGs request a response from Bank of America within thirty days.

Clever Robot News Desk 22^nd April 2024