15 Attorneys General Investigate Allegations
A coalition of 15 state attorneys general, led by Virginia’s Jason S. Miyares, is investigating allegations that Bank of America is closing accounts based on customers’ religious and political beliefs.
The coalition alleges that Bank of America has a history of “viewpoint-based debanking,” targeting individuals and businesses whose views differ from its own. They have demanded a written report from the bank detailing its account policies and practices, as well as a commitment to end discrimination based on religious or political views.
Examples of Debanking
The coalition cites several recent examples of debanking, including against gun manufacturers, coal mining companies, and contractors for U.S. Immigration and Customs Enforcement. They also allege that Bank of America is indoctrinating its employees with a “racial reeducation program” that promotes divisive ideas.
Legal Risks and Consequences
The attorneys general warn Bank of America that its actions may violate consumer protection and antidiscrimination laws, as well as create regulatory and political risks. They have requested a response from the bank within 30 days and have indicated that they may pursue legal action if necessary.
Coalition Members
In addition to Virginia, the coalition includes attorneys general from Alabama, Arkansas, Idaho, Indiana, Iowa, Mississippi, Missouri, Montana, Nebraska, South Carolina, South Dakota, Texas, and Utah.
