Tag Archives: BofA

Group of Republicans go after Bank of America for religious and political discrimination

BofA-turns-over-banking-records

Important Takeaways:

  • Bank of America accused of religious and political ‘discrimination’ by ‘de-banking’ or refusing to service Trump supporters, Christian churches and Republican-led states want answers
  • A dozen Republican-led states plan to send a letter to Bank of America demanding an explanation for why it allegedly de-banked Christian and other conservative groups.
  • The letter obtained first by DailyMail.com, led by Kansas Attorney General Kris Kobach, demands that the financial institution turn over documents related to its account cancellation policies and requested that the bank update its terms of services to not discriminate against clients with certain political or religious beliefs.
  • The notice comes after it was revealed that Bank of America sent the FBI and U.S. Treasury private consumer financial data to help the agencies investigate crimes related to the January 6 Capitol protest.
  • ‘Unfortunately, Bank of America appears to be conditioning access to its services on customers having the bank’s preferred religious or political views,’ Kobach writes in the letter to Bank of America CEO Brian Moynihan obtained by DailyMail.com.
  • ‘Your discriminatory behavior is a serious threat to free speech and religious freedom, is potentially illegal, and is causing political and regulatory backlash.’
  • The committee’s probes remain ongoing.
  • Currently, the Bank of America is the second-largest bank in the U.S., handling over $3 trillion.

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Bank of America: “Inflation Shock Worsening”

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • A “recession shock” is coming, BofA warns
  • The macro-economic picture is deteriorating fast and could push the U.S. economy into recession as the Federal Reserve tightens its monetary policy to tame surging inflation, BofA strategists warned in a weekly research note.
  • ‘Inflation shock’ worsening, ‘rates shock’ just beginning, ‘recession shock’ coming”, BofA chief investment strategist Michael Hartnett wrote in a note to clients, adding that in this context, cash, volatility, commodities and crypto currencies could outperform bonds and stocks.

Read the original article by clicking here.