Banks Cancel Accounts For Christian and Conservative Groups

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Faith-based and conservative organizations are losing their bank accounts as banks that label them “high risk” are denying them financial services. CBN News reports that organizations have gone to the bank only to find out their accounts have been closed, payment processors are turned off, and some have even been placed on a donor “blacklist.” The banks are able to take such action because of federal banking laws that allow them to do so. 

Among those that have found their bank accounts closed due to their being “high risk,” include Indigenous Advance Ministries, an organization which helps orphans and widows in Africa. Their account was closed by the Bank of America. Additionally, the Family Council of Arkansas, which promotes traditional family values, had their bank account at JP Morgan Chase closed. 


JP Morgan Chase even closed the account of the National Committee for Religious Freedom, which is a multi-faith organization headed by former U.S. Senator and Religious Freedom Ambassador Sam Brownback. Later, Brownback found out that his group was canceled because he was designated as a “politically exposed person” with a “customer risk profile.” Brownback said this destination is never used for former U.S. Senators, but is only supposed to be applied to foreign nationals. 

The Ruth Institute was also a victim of the account closures. The Institute shared that they were notified that the bank was “not going to do business” with them anymore. The Ruth Institute was labeled a “hate group” by the heavily biased Southern Poverty Law Center for their stance on traditional marriages and families. 


“Banking expert Nick Anthony at the CATO Institute says federal law gives banks a myriad of excuses to cancel groups whose values present so-called ‘reputational risks.’ He adds the real culprit may also be federal regulators, who can pressure banks to cancel certain groups,” reports CBN News.

Dr. Jennifer Roback Morse, founder of the Ruth Institute, explained the concerning find that banks are no longer motivated solely by profit, but they are using their power to “create a world in their own image,” which means providing funding for groups that fit their own political agenda. 

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