Ambassador James Comer, R-Ky
The Senate Banking Committee plans to hold a hearing on the decisions of financial institutions for Debank clients Through various regulatory concerns and invites those affected to contact the Committee to report their allegations.
“This hearing will give an important opportunity to listen directly to Americans who manage federal legal affairs and are debatted,” said President Tim Scott, Rs.c.
“It will also enable Banking CommitteeAnd the American public, to learn more about whether there is an inappropriate impact of financial regulators. Debanking is unacceptable and Ne-American’s hearing is the first step in our efforts that we consider bad actors responsible, “Scott said.
The Committee published the initial list of witnesses involving Nathan McCauley, executive director and co -founder of Anchorage Digital; Evan Hafer, founder and executive president of the Black Rifle Coffee Company; and Stephen Gannon, partner Davis Wright Tremaine LLP.
The Chairman of the Senate Banking Committee Tim Scott, Rs.c., plans to discuss Debanking. (Roberto Schmidt / AFP via Getty Images / Getty Images)
Scott encourages individuals and companies report allegations Staff of the Committee ahead of the hearing.
Panel hearing called “Research of Real Debanking In America” is scheduled for February 5 at 10:00 ET.
Hearing comes after the president Donald Trump He raised the issue of Debanking during a session of questions and answers after his speech at the World Economic Forum last week.
Trump’s Davos Comments Reignete Debanking Controversy
President Trump is asking the CEO of Bank of America Brian Moynihan and other financial institutions not to destroy conservative clients because of politics.
Trump shouted Bank of America Executive Director Brian Moynihan and CEO of JPMORGAN Chase Jamie Dimon during exchanging with Moynihan saying: “You have done a fantastic job, but I hope you start opening your bank conservatives because many conservatives complain that banks do not allow them to work for work Bank – and that included a place called Bank of America … They don’t take over the conservative job. “
“And I don’t know if the regulators ordered it because of [President Joe] Biden or what, “Trump continued” but you and you [JPMorgan CEO Jamie Dimon] And all – I hope you open your banks to the conservatives, because what you do is wrong. “
Conservative group targets Wall Street in a report claiming that large banks have a firearm industry
President Donald Trump holds a speech through video conferences during the 55th annual meeting of the World Economic Forum (WeF) in Davos, Switzerland on January 2, 2025. (Halil Sagirkaya/Anadolu via Getty Images)
Federal laws i Financial regulations May request banks to close accounts for concern about things like money laundering or illegal financial activities. Both companies challenged the allegations that politics contributed to the decisions to close the bank accounts of some clients.
“We serve more than 70 million clients and welcome conservatives,” and Bank of America A spokesman told Fox Business. “We are required to follow the extensive government rules and regulations that sometimes result in decisions on the outflow of relationships with clients. We never close accounts for political reasons and do not have a political lithmus test.”
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JPMORGAN spokesman said in a statement that the bank “will never close the account for political reasons, complete stopping. We follow the law and guidelines from our regulators and have long said that there are problems with the current frame that Washington must deal with.”
