Bank execs pressured by Obama and Biden administrations to DEBANK conservative clients
- Senior officials at major U.S. banks claim they were pressured by regulators under the Obama and Biden administrations to deny services to politically disfavored individuals and groups.
- Executives cited “Operation Choke Point” and a rebooted version under former President Joe Biden as efforts to target industries like firearms, crypto and conservative nonprofits using regulatory ambiguity.
- Banks were allegedly encouraged to consider negative media coverage as justification for debanking clients, particularly conservatives and President Donald Trump allies, without direct orders from regulators.
- Critics argue that debanking, originally intended for anti-money laundering, has been “weaponized” against dissidents, religious groups and businesses labeled undesirable by political elites.
- In response, Trump signed the “Guaranteeing Fair Banking for All Americans” order, banning banks from denying services based on political beliefs or using “reputational risk” in a discriminatory way.
Senior banking officials are now speaking out about years of political pressure from federal regulators to deny financial services to certain individuals and businesses based on political or ideological grounds.
In interviews with Fox News Digital, two executives from major U.S. banks, who requested anonymity, claimed that regulatory agencies under former Presidents Barack Obama and Joe Biden used ambiguous laws to advance political agendas. These pressures, they said, were often subtle but unmistakable.
According to the bank executives, much of the pressure came during initiatives like “Operation Choke Point,” a Department of Justice (DOJ) program launched under the Obama administration to cut off banking services to “high-risk” industries, such as firearm sales, payday lenders and certain political groups.
Although President Donald Trump officially ended the program in 2017, lawmakers and industry insiders now claim a rebooted version, dubbed “Operation Choke Point 2.0,” emerged under the Biden administration. This iteration allegedly targeted cryptocurrency firms, conservative nonprofits and other disfavored groups.
One of the executives suggested that during Biden’s presidency, banks were encouraged to consider negative media coverage as a marker of reputational risk. This, they said, led to heightened scrutiny and in some cases, outright debanking of conservative clients, including individuals associated with Trump, especially during periods of legal battles and hostile press.
The same executive also revealed that regulatory agencies did not need to issue direct orders. Instead, expectations were made clear through subtle means, implying that failure to comply could bring regulatory consequences. One key area of focus, he said, was the pressure to file more Suspicious Activity Reports (SARs), which banks are required to submit to the Treasury Department when they detect potentially illegal or questionable transactions.
Though the executives acknowledged that regulators often acted with good intentions, they argued that the worldviews of agency officials inevitably shaped their decisions, leaving banks stuck between political winds and regulatory compliance.
“Those pressures were very, very real. When your regulator gives you a suggestion, it’s not a suggestion; it’s an order. The political stuff is very real, those pressures are real,” one of the two senior banking executives said during the interview.
Trump targets “weaponized” debanking with executive order to protect political and religious beliefs
The term “debanking,” according to Brighteon.AI’s Enoch, refers to the closure of a business’ or an individual’s bank accounts or denial of services, often without a clear explanation. Originally rooted in federal anti-money laundering laws, the practice has been frequently weaponized against political dissidents, conservative activists, independent journalists or industries deemed “undesirable” by globalist elites, such as firearms dealers, alternative health practitioners or critics of government narratives.
Tim Schwarzenberger, a CFA of Inspire Investing, a firm actively engaged in fighting debanking, stated that banks have used “reputational risk” as a pretext to deny services to individuals and groups with politically unpopular views.
Trump claimed he was a victim of debanking, alleging that major banks like JPMorgan Chase and Bank of America refused to accept over $1 billion in deposits. Melania Trump also said she and her son Barron were debanked. Former Sen. Sam Brownback similarly accused JPMorgan of debanking his religious nonprofit in 2022.
In response to such claims, Trump recently signed an executive order titled “Guaranteeing Fair Banking for All Americans,” banning banks from denying services based on political beliefs or citing “reputational risk” in a politicized manner. (Related: Trump vows to issue executive order to stop “debanking” of conservatives.)
Visit Conspiracy.news for more stories like this.
Watch this episode of “World Alternative Media” as host Josh Sigurdson is joined by financial expert Tim Picciott, the Liberty Advisor, to discuss the more than 1,000 bank accounts being shut down every day for political views.
This video is from the World Alternative Media channel on Brighteon.com.
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DEBANKING SPREE: UK banks are closing more than 1,000 accounts a day with little explanation.
Sources include:
TheNationalPulse.com
FoxNews.com
Brighteon.AI
Brighteon.com
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