Bank of America cancels popular conservative's bank account
Bank of America Thursday canceled the bank account belonging to Catturd, a popular conservative voice on social media, without warning or explanation.
“Just so you know, Bank of America @BankofAmerica canceled our bank account for our podcast,” Catturd told his +818,000 followers on Twitter Thursday. “When Jewels, my cohost, asked why they rudely said they didn’t need reason. @BankofAmerica are commie POS losers. BEWARE!”
The move comes a day after JP Morgan Chase abruptly canceled the bank account of Yeezy, rapper Kanye West’s company. West has been vocal about supporting President Donald Trump and opposing the Democratic Party’s agenda.
“We are sending this letter to confirm our recent discussion with [redacted] that JPMorgan Chase Bank, N.A (the ‘Bank’) has decided to end its banking relationship with Yeezy, LLC and its affiliated entities (collectively, the ‘Company’),” the bank said in an email to West, according to the Daily Wire. “To provide the Company with sufficient time to transition to another financial institution, we will continue to maintain the accounts (attached as Exhibit A), including all related products and services, until November 21, 2022.”
“To avoid any transaction delays, we suggest that you stop processing Company transactions and/or using any products associated with the accounts five business days before the scheduled closure date set forth above,” the statement continued. “After that date, the Bank will close any open accounts, and after deduction of any permissible service charges and pending transactions, remit all remaining funds in the form of a check delivered to the Company at the address of record.”
America’s Frontline News previously reported that according to some economists, banks and financial institutions are likely to become the “new legislators” as they independently enforce certain behaviors, especially if sanctioned by the regime.
“I think it is highly likely that within the next two years, you’re going to see financial institutions start to use a personalized social credit score of some kind to make decisions about things like your access to loans, your interest rate, or whether you’re eligible for insurance coverage,” said Heartland Institute Director Justin Haskins, according to an analysis by The Epoch Times. “All the signs are pointing to that happening very soon,” he said.
American Legislative Exchange Council Chief Economist Jonathan Williams predicts that if enough progressive pressure is brought to bear on the financial system, it would mean “having people’s freedoms eroded without any legislation ever having to be passed, whether it’s companies with a radical take on ESG or FICO personal credit scores.”
Environmental and social governance (ESG) is a rating system which grades companies, countries and soon individuals on how well they conform to the prevailing narrative on environmental and social issues.
Indeed, the consumer credit rating agency FICO openly said in December that personal social credit scores will soon be enforced, stating that “one example would be the inclusion of property energy ratings data in mortgage valuation and decisioning.” In other words, consumers who pay their debts and have excellent financial credit may have trouble getting a mortgage, car loan, bank loan, or credit card if they are not environmentally conscious.
BlackRock CEO Larry Fink, who heads one of the world’s largest investment firms, was candid about how the company approaches ESG.
“You have to force behaviors, and at BlackRock, we’re forcing behaviors,” said Fink in 2017.
Two years ago, the mere suggestion that banks and other corporations would refuse service to individuals based on their carbon footprint would have been dismissed out of hand as a conspiracy theory.
But COVID-19 vaccine mandates have proven that even when not under legal pressure, many companies are more than willing to discriminate against prospective customers if public sentiment is strong enough. As of May 2022 four out of ten companies still impose some kind of vaccine mandate, reports Bloomberg Law.
That may be why Chase Bank felt comfortable closing former Trump national security adviser Lt. Gen. Michael Flynn’s bank account in 2021 due to “reputational reasons,” according to The Heritage Foundation. Chase's decision followed an earlier decision by Wells Fargo to close the bank account of 2020 Delaware Republican Senate Candidate Lauren Witzke. Bank of America, of its own volition, decided to track its customers who may have been at the Capitol on January 6, 2021, and report them to the FBI. Following the Capitol breach, payment processor Stripe stopped processing payments for Trump’s campaign and anyone who was at the Capitol that day.
