Bank of America is facing calls for a boycott from supporters of former President Donald Trump and the MAGA movement over allegations that the bank is closing accounts based on customers’ political views. John Eastman, a former lawyer for Trump, claimed his Bank of America account was closed due to his attempts to help overturn the 2020 election results. Pro-Trump and MAGA social media profiles are now calling for a boycott of Bank of America over the alleged practice of “de-banking.”
Calls for the boycott of Bank of America have been growing on social media, with users urging others to close their accounts with the bank. Republican attorneys general have also signed a letter warning Bank of America’s CEO against alleged discriminatory behavior targeting people for their political or religious views. Bank of America has denied the accusations of de-banking based on political beliefs, stating that religious beliefs are not a factor in any account-closing decision.
Bank of America’s alleged involvement in sending private consumer financial data to the FBI and U.S. Treasury for investigations into the January 6 attack at the Capitol in 2021 has sparked further criticism. Missouri Attorney General Andrew Bailey expressed his support for the 15 AGs demanding answers from Bank of America regarding the reported de-banking of individuals based on their political beliefs. The AGs are concerned that such actions may constitute a serious violation of the First Amendment.
The controversy surrounding Bank of America has led to increased scrutiny and debate over the bank’s practices and alleged discriminatory behavior. Supporters of the boycott argue that any company engaging in de-banking based on political beliefs is in violation of fundamental rights to free speech and expression. The bank has faced backlash for its role in providing financial data to authorities for investigations into the Capitol attack, leading to concerns about privacy and civil liberties.
While Bank of America has denied the allegations of de-banking based on political beliefs, the calls for a boycott from Trump supporters and Republicans continue to gain momentum. The bank’s response to the accusations will be closely watched as the debate over financial institutions’ role in politics and social issues intensifies. As the controversy unfolds, the implications for customer trust, privacy rights, and free speech remain key points of contention in the ongoing debate surrounding Bank of America and its alleged discriminatory practices.
