President Trump actually accused BofA and Chase of blocking conservatives. Weird exchange to say the least.
Link: https://www.advisorhub.com/trump-complains-to-moynihan-that-bofa-blocks-conservatives/
Same goes for his supporters on this Board.
It’s why it is often a waste of time to engage with people who disregard truth.
change, you deliver much needed humor to the board.
BoA debank conservatives.
Link: https://adflegal.org/press-release/15-states-bank-america-come-clean-customers-commit-equal-treatment/
There’s no proof of this happening other than some bullshit article you posted…and that ain’t proof.
I work in the commercial banking industry, so I would know. Nice try, Chicom
They have to be as they’re beholden to the regulators. With each administration there are different levels of bank regulatory requirements. Customers aren’t “de-banked” because of politics…ever. The claim and comment are unfounded. Trust me, I know.
Regarding debanking, the Dems provide cover for them by providing list of people of interest (whether criminals or conservatives or gun store owners, etc.), and the banks move away from those people. So, in that regard, perhaps the debanking accusation was unfair.
Personally, though, I would never bank with BOA if they are willing to collude with the Feds by providing information on their customers without subpoenas or warrants. They should protect their customers by making the authorities jump through their respective hoops. Checks and balances. (Granted, there is the rubber stamp FISA court to give cover to the Dem prosecutors/investigators, and that also needs to be addressed.)
I guess you can say that none of that is happening, and this is all a conspiracy theory, and the media reports on this are wrong. Who knows?
Especially during investigations. Banks must comply. This has nothing to do with politics.
I've worked with the Feds before. They ask first. If you tell them to get an order, sometimes they do, sometimes they don't.
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Sure, I suppose the whistleblowers could be lying. NY Post had a write up of how the authorities were supposed to get formal orders, but didn't. Who knows. I don't feel bad if the banks are reminded of their duties to their customers in this regard.
…to Chris94 making the sane claim about the DOJ, the FBI, the State Dept, etc..
DFH certainly knows the system he sees, but any system can be abused. And it is a rare thing for 15 different states to have cases that AG’s feel worth targeting a company that is supposedly apolitical.
Seems like transparency would be in order with disclosure in each case.
You’d think that if there was merit to this “case”, we would have heard about it a lot more.
You did raise a valid point…all systems and processes are subject to abuse. It is quite possible that confidential info was released improperly. I, however, have my doubts.
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own personal and social gain).
I assume that you have seen enough how administrator group think works when they grab hold of what they view as a virtue signal?
I’ve seen Moynihan operate in highly sensitive and very important scenarios. He has never promoted a political agenda. Doing so would alienate at least 50% of the bank’s customers.
In fact, I was on a call with him when a question about Green Energy and Gas/oil drilling came up. His response was, “why can’t we do both?”
Needs to clear up then., because it really does look bad, and this was before Trump called attention to it.
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