Trump confronts Bank of America CEO on fair banking for conservatives

President Donald Trump called out Bank of America CEO Brian Moynihan at the World Economic Forum on Thursday, accusing the bank of not offering banking services to conservatives.

“You’ve done a great job,” Trump told Moynihan during a question and answer session, “but I hope you start opening up your bank to conservatives because a lot of conservatives complain that the banks don’t allow them to do business in the bank — and that included a place called Bank of America… They don’t take conservative business.”

“And I don’t know if the regulators imposed it because of (President Joe) Biden or what,” Trump continued, “but you and (JPMorgan CEO Jamie Dimon) and everybody else — I hope you’ll open your banks to conservatives because what you’re doing is wrong.”

Moynihan did not respond to Trump’s remarks about fair banking for conservatives, instead changing the subject and telling the president that Bank of America looks forward to sponsoring the World Cup when it comes to the United States

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A Bank of America spokesman denied that the bank has closed accounts for political reasons, saying they “welcome conservatives.”

“We serve more than 70 million customers and we welcome conservatives,” the spokesperson told FOX Business. “We are committed to following extensive government rules and regulations that sometimes result in decisions to exit customer relationships. We never close accounts for political reasons and do not have a political litmus test.”

A JPMorgan spokesman said in a statement that the bank “would never close an account for political reasons, period. We follow the law and the guidance of our regulators and have long said there are problems with the current framework that Washington needs to address on.”

“We welcome the opportunity to work with the new administration and Congress on ways to remove legislative ambiguity while preserving our country’s ability to deal with financial crime,” the spokesman said.

Ticker	Security	Last	Change	Change in %
BAC	BANK OF AMERICA CORP.	46.39	+0.60	+1.31%

Bank of America has faced several accusations of discriminating against conservatives in recent years.

Attorneys general from 15 states called Bank of America’s alleged “discriminatory conduct” in a letter condemning the de-banking efforts targeting customers for their religious and political beliefs.

Timothy Two Project International’s founder, Steve Curtis, detailed experiences his organization had with Bank of America.

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The organization, which requires international travel, focuses on training pastors who may not have access to formal education.

Curtis told “FOX & Friends First” the organization received a letter in 2020 from the bank saying their account would be restricted in 21 days and closed entirely in 30 days.

“We had people all over the world,” Curtis emphasized. “We travel a lot and we need these cards in the field. So it had the potential to be very disruptive for us,” he continued.

Curtis said the bank failed to provide a reason other than the organization was “engaged in a type of business that they had chosen not to service.” He went on to mention that they still “don’t know why.”

Bank of America denied the claims in a statement at the time, saying, “Religious beliefs are not a factor in any decision to close accounts. We are proud to provide banking services to non-profit organizations affiliated with various faith communities throughout the United States .”

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In a separate report last year, Bank of America was named by a conservative group as one of several Wall Street banks that allegedly discriminated against the firearms industry.

The American Accountability Foundation report, titled “Debanked by the Banks,” highlights how some of the biggest names on Wall Street — including Goldman Sachs, Wells Fargo and Bank of America — allegedly used their control of capital to undercut firearms manufacturers, retailers and organizations representing legal gun owners.

FOX Business’ Chris Pandolfo and Alicia Warren contributed to this report.