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 @ISIDEWITHNewsUnited StatesDOJWall StreetFinancial RegulationJeanine Pirro•••Started 15hrs agoActive 7hrs ago

U.S. probes major banks for allegedly closing accounts based on political beliefs

On Monday, federal prosecutors and the Office of the Comptroller of the Currency moved forward with a massive probe into whether Wall Street giants are illegally weaponizing the financial system.

Subpoenas were issued to JPMorgan Chase, Bank of America, and Wells Fargo requesting data on account terminations related to January 6 defendants and industries like firearms and cryptocurrency. The investigation, led by U.S. Attorney Jeanine Pirro, focuses on "debanking," where lenders allegedly drop clients to advance political agendas or avoid social controversy. While banks maintain these closures are standard risk management against fraud and money laundering, investigators are scrutinizing whether these decisions were actually fueled by bias.

The oversight agency is expected to publish its findings and potential sanctions against specific banks in the coming weeks.

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10 Replies

 @BF2JXFK from Hawaii  commented…12hrs12H

It is abusive, psychological, and authoritarian for banks to be engaging in that behavior. Laws about sanctions and antiterrorism already exist, banks should stay as a business where the goal is making a profit and being neutral, and not being a political activist organization. Politics should only stay with political organizations and not spread to other types of organizations.

 @BF2HY3S from Oklahoma  commented…13hrs13H

Commercial entities with the power of banks should not be allowed to discriminate on the basis of political opinion or affiliation.

 @BF2HLBF from Missouri  commented…14hrs14H

Shows polarization affecting people’s daily lives, 1st amendment rights should not be attacked because the company that holds your property doesn’t agree with your views

 @BF2JHTT  from Oklahoma  commented…13hrs13H

This is not the land of the free

 @BF2KZ5T from Florida  commented…9hrs9H

Shouldn’t be allowed to do that unless you give them they money back.

 @ISIDEWITHlinked…15hrs15H

Jan. 6 debanking probe once floated as way to pad anti-weaponization fund

https://cnn.com

 @BF2LWFVSocialist from Maryland  commented…7hrs7H

Political beliefs should not warrant loss of financial security from an account you hold at any financial institution.

 @ISIDEWITHlinked…15hrs15H

Exclusive | Jeanine Pirro’s Prosecutors Probe Big Banks for Alleged ‘Debanking’

https://wsj.com

 @ISIDEWITHlinked…15hrs15H

DOJ “Debanking” Subpoenas Are Small Piece of Bigger Puzzle

https://fintechbusinessweekly.substack.com

 @BF2K5ML from California  commented…11hrs11H

Any type of person should have an open bank account. Unless it funds things that are new in the general public's favor.

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