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ADF URGES CONGRESS TO PROTECT CONSERVATIVES, CHRISTIANS FROM DEBANKING,
WEAPONIZED GOV'T

Talia Wise
03-15-2024

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An attorney with the Alliance Defending Freedom testified before Congress
Thursday alleging some of the country's largest and most powerful financial
institutions are de-banking conservatives because of their religious and
political views. 

ADF Senior Counsel Jeremy Tedesco told the House Select Subcommittee on the
Weaponization of the Federal Government that some banks have worked with law
enforcement to profile some Americans as potential "domestic terror threats if
they buy religious texts or firearms or support Donald Trump."

"They maintain reputational risk policies that allow them unfettered discretion
to punish customers who have, in the institution's view, problematic views. Many
also have prohibitions on 'hate' speech and 'intolerance' that require
subjective and value-based judgments on a customer's viewpoint," said the
attorney with the non-profit legal group. 

***Please sign up for CBN Newsletters and download the CBN News app to ensure
you keep receiving the latest news from a distinctly Christian perspective.***

"No American should be denied access to basic financial services such as a bank
account, debit or credit card, or payment processing because of their religious
or political views. Unfortunately, many Americans have good reason to fear that
these essential financial services could be abruptly canceled based on the
exercise of their First Amendment freedoms," Tedesco added.

According to the Daily Signal, The Treasury Department's Financial Crimes
Enforcement Network (FinCEN) sent an email to leadership at major banks,
highlighting a report from the Institute for Strategic Dialogue and Global
Disinformation Index titled "Bankrolling Bigotry: An Overview of the Online
Funding Strategies of American Hate Groups."

The list "draws a false equivalency between certain conservative civil society
groups and the American Nazi Party and the Knights of the Ku Klux Klan,
suggesting FinCEN views them equally," said the House Select Subcommittee on the
Weaponization of the Federal Government.

Tedesco explained how Bank of America canceled the accounts of religious
organizations including Indigenous Advance Ministries and a Memphis church,
Servants of Christ. 

He testified that Bank of America only told the organizations that "upon review
of your account(s), we have determined you're operating in a business type we
have chosen not to service at Bank of America." 

After ADF pressed the bank for answers, the company said without explanation
that Indigenous Advance Ministries "no longer aligns with the bank's risk
tolerance."

As CBN News also reported, Sam Brownback, a former U.S. ambassador for religious
freedom, contends Chase Bank abruptly closed an account associated with his
nonpartisan, faith-based nonprofit organization with little explanation.

Brownback is the chairman of The National Committee for Religious Freedom (NCRF)
and said in 2022 the bank decided to "end their relationship" with the group and
close the account after only three weeks. 

"When our executive director called to see if this was an error, he was informed
that 'a note in the file read that Chase employees were not permitted to provide
any further clarifying information to the customer,"'' he explained. 

"Why the cancellation? Why the secrecy and lack of transparency? Why was Chase
hiding its reasons and intentions for closing the account of a client that seeks
to serve the public good and defend religious freedom for every person in
America," Brownback questioned.

The bank later stated the group had not provided the requested documentation in
a 60-day timeframe, but Brownback notes the account was only open for 20 days
before it was closed. 

Tedesco also pointed out that donations given to ADF through Fidelity Charitable
were either hindered or denied "unless they surrendered their anonymity."

He urged Congress to pass the Fair Access to Banking Act, which would place
restrictions on banks, credit unions, and payment card networks that refuse to
do business with certain organizations or individuals. 

"Many conservative and religious citizens and organizations are one disgruntled
activist, employee, or regulator away from losing their bank account or payment
processing," Tedesco told the subcommittee.

"We cannot live in a free country if access to the marketplace depends on our
political or religious views," he said. 

On the state level, the Tennessee Legislature is considering H.B. 2100 and S.B.
2148 which would prohibit banks and financial institutions from denying or
canceling their services to a person based on the person's political opinions,
speech, or religious affiliations, National Review reports. 



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ABOUT THE AUTHOR

Talia
Wise

Talia Wise has served as a multi-media producer for CBNNews.com, CBN Newswatch,
The Prayer Link, and CBN News social media outlets. Prior to joining CBN News
she worked for Fox Sports Florida producing and reporting. Talia earned a
master’s degree in journalism from Regent University and a bachelor's degree
from the University of Virginia.
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