Algorithmic debanking

[Casey Jones]

Same could be said of the Untied Skates.

...but, where you gonna run?

 

[searcher]

Related

Banks keep cannabis at arm’s length over perceived risk: GAO

Financial institutions cite an evolving regulatory landscape among reasons for their uncertainty in serving the space, according to a wide-ranging report.

www.bankingdive.com

 

[pmbug]

Major banks closed accounts and refused credit to MAGA merchants, pro-life causes, religious groups, conservative organizations and sectors disfavored by the Biden administration, such as firearms, oil and gas, and private prisons, a bombshell report from the federal banking regulator has found.

The Debanking Review by the Office of the Comptroller of the Currency (OCC) investigated 100,000 complaints and scrutinized 50,000 internal bank records to reveal how customers were “debanked” based purely on their political, social, or religious beliefs.

JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S. Bank, Capital One, PNC, TD Bank, and BMO Bank were found to have discriminated against American consumers, citing “reputation risk” as a reason to deny service between 2020 and 2025.

Exclusive | Major banks closed accounts of MAGA, pro-life and other conservative groups disfavored by Biden admin: bombshell report

The banks also restricted financing for “disfavored” industries such as firearms makers and retailers, Arctic oil and gas, coal, detention facilities, tobacco and e-cigarettes.

nypost.com