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President Donald Trump On Thursday, he invited one of the biggest American banks during the session of questions and answers with his executive director during the World Economic Forum, accusing the bank of not offering financial services to conservatives and reinstars the dispute over political debinking.
Trump said during the session to the Bank of America CEO Brian Moynihan: “You did a fantastic job, but I hope you start opening your bank to the conservatives, as many conservatives complain that banks do not allow them to do business within the bank – which included the bank of America.
“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 everyone – I hope you open your banks to the conservatives, because what you do is wrong. “
Banks, including the Bank of America and JPMORGAN Chase, challenged the allegations that politics contributed to the decisions to close bank accounts.
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President Donald Trump has criticized the leading US bank for alleged debancing practices during objections at the World Economic Forum. (Bill Pugliano / Getty Images / Getty Images)
“We serve more than 70 million clients and welcome conservatives,” a spokesman for the US Banka for Fox Business told. “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.”
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.”
“We welcome the opportunity to cooperate with the new administration and congress in ways of removing regulatory ambiguity with the maintenance of our country’s ability to deal with financial crime,” a spokesman said.
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The Executive Director of the Bank of America Brian Moynihan was present during Trump’s question and answers at the World Economic Forum. (Photo John Lampar / Getty Images / Getty Images)
In recent years, Republican lawyers have sent letters to banks, seeking explanations for deciding decisions that include various conservative organizations or companies involved in controversial industry, such as weapons dealers.
Last year, a group of 16 lawyers wrote to Wells Fargo to close accounts in Florida and said that they believe that the company used debinking as a “political tool to expand the Biden administration policy across the country.”
State Financial Officers also caused concern about the debinking of practice with banks on Wall Street, as a group of more than a dozen state treasurer, auditors and controllers wrote JPMORGAN Chase last year to “convey our concern that the bank was hired in what seems politically motivated Debanging of certain industries, individuals and groups. “
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Executive director of JPMORGAN Chasea Jamie Dimon said banks should be able to tell clients more about why they were debated. (Victor J. Blue / Bloomberg via Getty Images / Getty Images)
“President Trump is right, and I’m glad that he brings light to the non -ethical and most likely illegal behavior of some of the biggest financial institutions in the country,” Municipal Austin Knudsen told Fox Business. “For years, large banks, including the Bank of America, debbled and discriminated against conservative and religious groups in favor of the agenda of the left.”
“As a state prosecutor, I called them, demanding answers and actions from them, and I will continue to do everything I can to consider them responsible and bring out my bad behavior. It is refreshing to have a president who recognizes the problem and joins the effort to stop him.”
| Dice | Security | Last | Change | Change % |
|---|---|---|---|---|
| Jpm | Jpmorgan Chase & Co. | 264.83 | -1.13 |
-0.42% |
| Back | Bank of America Corp. | 46.51 | +0.12 |
+0.25% |
| WFC | Wells Fargo & Co. | 77.33 | -0.11 |
-0.14% |
Federal laws i Financial regulations Can you state banks to close accounts for concerns about things like money laundering or illegal financial activities, and one prominent bank leader thinks that companies should be able to be more with clients about why such decisions are made.
JPMORGAN CHAMBER CEO JAMIE DIMON appeared on the Podcasta “Underkakeables” and said in a discussion of the challenges that the crypto companies had encountered Debanging that banks should not tell clients why they were abolished and that their accounts were closed.
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“I think we should let us tell you,” Dimon said. “When we report things, the federal government should probably know about it and should be far clearer lines about what we have to do and what we do not have to do or such things.”
Fox Business’ Breck Dumas contributed to this report.
