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Authored by Naveen Athrappully via The Epoch Times,

A group of 15 financial officials from 13 states sent a notice to Bank of America, raising concerns about the institution’s “de-banking” of Christians.

In April 2023, Bank of America shut down the account of Indigenous Advance Ministries, which partners with groups in the African nation of Uganda to provide care and education for orphaned and at-risk children. The bank closed accounts of a Memphis church which donated to the organization.

Bank of America provided “vague reasons” for the closure of these accounts, claiming the organization’s activities exceeded the institution’s “risk tolerance” and that it no longer wanted to serve its “business type.”

In 2020, the bank closed the account of Timothy Two Project International, which trains pastors in more than 65 nations. In a letter to the group, the bank claimed the closure was due to Timothy Two operating “a business type we have chosen not to service.”

The financial institution also froze the accounts of author Mr. Wallnau, alleging he was suspected of money laundering. However, the bank failed to provide any evidence supporting such accusations.

While the bank eventually unfroze the account, they required Mr. Wallnau to answer a series of invasive questions.

The letter pointed out that Bank of America’s vague terms of service allow them to deny services for political or religious views. For instance, the company’s policy says it can refuse services to clients deemed to “promote intolerance … or hate.”

This policy can be weaponized by the bank against clients who express certain views, which are protected by the First Amendment, the officials wrote.

Bank of America, being the second largest bank in the nation and a recipient of a host of government subsidies, is obligated to ensure equal access to marketplace for all Americans and “not play politics,” officials wrote.

The letter was written by officials from Alabama, Arizona, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Nebraska, Nevada, North Dakota, Oklahoma, South Carolina, and Utah.

They demanded that the institution implement certain recommendations, including eliminating “existing viewpoint discriminatory terms” governing customers, updating its terms of service to include a commitment to not discriminate on the basis of religion or politics, and taking part in a survey to assess how the bank’s policies impact the civil liberties of its customers.

The Epoch Times reached out to the bank for comment.

De-banking of Conservatives

The issue of de-banking conservatives has been a hot topic in recent years. A November 2022 statement signed by 60 financial professionals alleged that banks like JP Morgan Chase, Wells Fargo, Capital One, and Morgan Stanley were engaged in political or religious discrimination.

Meanwhile, Morgan Stanley refused to do business with organizations that raised “significant human rights, environmental, health, and safety or social responsibility issues.”

Similarly, credit behemoth Visa mandated that merchants do not use its services in any manner deemed “hateful.”

Meanwhile, states are taking action to end financial discrimination against conservatives by the banking industry.

Iowa earlier this year introduced Senate Study Bill 3094, which bans financial institutions from discriminating against customers using a “social credit score.”

The bill defines “social credit score” as any evaluation of a person’s “speech, religious exercise, association, expression, or conduct protected by the First Amendment to the Constitution of the United States.”

If a financial institution is found violating the law, the attorney general can bring a civil action against the institution. A court can order the institution to pay damages, restitution, or other compensation.

In February, State Rep. Jason Zachary (R-Tenn.) introduced a similar bill in Tennessee. “This legislation prohibits the 20 largest banks in our country from denying financial services to any Tennessean based on political speech, religious belief, or a social credit score,” he said at a state House Banking and Consumer Affairs Committee hearing.