Major banks embrace tyranny as smaller banks close

America’s largest banks have been “de-banking” their political opponents as they grow larger amid the closures of several smaller banks.

In March, the country experienced the third-largest bank failure in its history as Silicon Valley Bank (SVB) collapsed from a bank run. SVB, which held $209 billion in assets, was a preferred bank among celebrities, venture capitalists and tech companies.

Days later, the US experienced its fourth-largest bank failure as Signature Bank folded with $110 billion in assets.

On Monday, America saw its second-largest bank failure since 2008 when Washington Mutual collapsed during the Global Financial Crisis. Government regulators seized First Republic Bank, which topped the two other banks with $213 billion in assets. The same day, it was sold to JPMorgan Chase, the largest bank in the US.

For First Republic depositors, this means their funds are safe. But for many Americans on the wrong side of the political spectrum, it may mean something else.

Nineteen Republican attorneys general Tuesday sent a letter to JPMorgan Chase demanding the institution stop discriminating against “conservatives and religious groups” by “de-banking” their accounts. 

The AGs cited an incident from May 2022, when Chase abruptly closed the account belonging to the National Committee for Religious Freedom (NCRF), a nonprofit aimed at safeguarding freedom for all religions. No transactions had raised any red flags. NCRF made some calls and discovered the decision had come from the “corporate office” and that a note in their file forbade staff from providing any clarity as to why their account was closed.

Chase eventually told NCRF that it would restore the organization’s account, but only if it divulged its donors, the political candidates it planned to support, and other unnecessary information.

In 2021 a Chase-owned credit card processor notified the pro-life organization Family Council that “we can no longer support your business” because it was considered “High Risk”. But the nonprofit met none of the qualifications for the High Risk category.

WePay, a payment gateway owned by Chase, refused service to a conservative group because it felt its views supported “hate, violence, racial intolerance, [and] terrorism”.

Also in 2021 Chase abruptly closed former Trump National Security Advisor Lt. Gen. Michael Flynn’s bank account for “reputational reasons,” according to The Heritage Foundation.   

The attorneys general noted that on the Viewpoint Diversity Score Business Index, which measures a company’s tolerance for a diversity of viewpoints and beliefs, JPMorgan Chase scored 15% out of 100.

Banks are free to refuse service to anyone, acknowledges the letter, but then Chase should not claim to be “inclusive” and “diverse” as it does. 

"The bank’s brazen attempt to condition critical services on a customer passing some unarticulated religious or political litmus test flies in the face of Chase’s anti- discrimination policies," wrote the AGs.

JPMorgan Chase is one of six “too-large-to-fail” banks that have been slowly becoming “financial legislatures”.

“The major banks, financial management firms, and insurance companies are de facto deciding how we will be able to live. They are becoming our new legislatures,” said New Hampshire State Rep. J.D. Bernardy.

In January, mortgage-lending giant Wells Fargo announced it will only provide new home loans to minorities as the bank prepares to step back from the mortgage market. Whites who are existing Wells Fargo customers will also be eligible for mortgages.  

Also in January, Wells Fargo suddenly closed the account of Brandon Wexler, a well-known gun dealer who had been with the bank for 25 years. The bank suggested it will no longer do business with firearms dealers when it told Wexler it was too “risky,” according to The Reload.

In 2020 Wells Fargo suddenly closed Republican Senate Candidate Lauren Witzke’s bank account without explanation. 

“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. “All the signs are pointing to that happening very soon,” he said. 

Bank of America, of its own volition, decided to track its customers who may have been at the US Capitol on January 6 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.  

In October, Bank of America also shut down the bank account of a popular conservative influencer and refused to provide an explanation. 

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.” 

The ideology being imposed on customers, which closely matches that of globalist bodies and governments, comes from top executives. Last month, JP Morgan Chase CEO Jamie Dimon suggested the federal government seize private property to fight “climate change”. The sentiment is shared by the Dutch government, which is currently trying to incentivize farmers to shut down their businesses for the environment.

Dimon, who makes roughly $35 million annually, also railed against everyday Americans who oppose carbon taxes, a measure applauded by the World Economic Forum. A carbon tax would likely tax people for every ton of carbon emitted, including driving, and farmers who raise livestock. Globalist leaders like Canada Prime Minister Justin Trudeau have already implemented a carbon tax, while others like former New Zealand Prime Minister Jacinda Ardern have proposed it.