Calls for Boycott of Bank of America Over Alleged “De-Banking” Based on Political Views

Bank of America Faces Calls for Boycott Over Allegations of Closing Accounts Based on Political Views

Bank of America is under fire as multiple MAGA supporters and Republicans are accusing the bank of closing accounts based on customers’ political and religious beliefs, a practice known as “de-banking.” The allegations have sparked calls for a boycott of the financial institution.

John Eastman, a former lawyer for Donald Trump, claimed that his Bank of America and USAA accounts were closed after his involvement in efforts to overturn the 2020 election results. This has led to further backlash from pro-Trump and MAGA social media profiles calling for a boycott of Bank of America.

LJ Lindsey and @mnbbrewster are among those urging people to close their Bank of America accounts in protest. The bank has denied the allegations of de-banking based on political beliefs, stating that religious beliefs are not a factor in any account-closing decision.

In response to the controversy, 15 Republican attorneys general have signed a letter warning Bank of America CEO Brian T. Moynihan against discriminatory behavior targeting customers for their political or religious views. The bank has also come under scrutiny for reportedly sharing private consumer financial data with the FBI and U.S. Treasury in relation to the January 6 attack on the Capitol.

Missouri Attorney General Andrew Bailey expressed concerns about potential violations of the First Amendment if companies are punishing consumers for their political beliefs. The situation highlights the ongoing debate over the intersection of politics and business practices in the United States.