by Frank Holmes, reporter
The Democratic Party just hit a new low—not just with the historical numbers of Americans who view the party in a negative light, but with new revelations about the party’s possibly illegal scandals.
Not only did they violate the U.S. Constitution, try to jail the president of the United States, and force millions of Americans to take an experimental shot, but they gave financial institutions an “order” to close bank accounts and shut down other services to Trump supporters.
Two senior bank executives have gone public that the Obama and Biden administration told them point blank that they had to debank the administrations’ hit list, or else.
Obama and Biden would decide the industries they wanted to starve, then hand down the message to banks through federal regulators.
“When your regulator gives you a suggestion, it’s not a suggestion, it’s an order. The political stuff is very real. Those pressures are real,” stated a source Fox News described as “a senior banking executive.”
Like the Mafia, federal regulators told bankers if they kept doing business with conservatives, it could mean bad things for their business.
“It’s better for us to just not take on certain business if we suspect an examiner can come in and say, ‘Six months ago, you shouldn’t have taken this client,’” the banker said.
One of the two banking chiefs Fox News talked to detailed exaclty how liberals stage coordinated attacks on their conservative enemies.
Radical left-wingers stir up paid protests against industries that lean Republican. The Fake News media amplify their accusations through nonstop “news” coverage. Then, Democratic administrations seize on the far-Left smears to brand their political opponents as a high-risk industry.
“It’s all kind of set up,” the senior banking executive told Fox News. “It’s like somebody set the table, and it all ends up focusing on Republicans and conservatives.”
Is that legal? That depends on who’s enforcing the laws.
“When there’s ambiguity in the law, beauty is in the eye of the beholder, and for a long time the beholder was the Obama and Biden administration,” the banker explained.
The whole dirty undertaking was all part of a broader Democratic campaign aimed at closing people’s bank accounts or shutting them out of services everyone else used: credit card payment processing, Paypal transfers, etc.
It began with Barack Obama’s Operation Chokepoint. Starting no later than 2013, Obama urged bankers to cut ties with gun manufacturers, payday loan lenders, the energy industry, and anybody else the Obama administration put on its enemies list.
Giving them loans, or even taking their bank deposits, would result in “reputational harm” to the bank, the three Obama-Biden-Harris administrations insisted.
Both Democratic administrations aimed to cut off financial services to a huge number of conservatives—and that included President Trump and his family. In addition to trying to jail President Trump, And First Lady Melania Trump revealed in her memoir, Melania, that she felt “shocked and dismayed to learn that my long-time bank decided to terminate my account and deny” 18-year-old son Barron “the opportunity to open a new one.”
The first Trump administration officially choked off Operation Chokepoint in a 2017 letter to Congress, stating the Justice Department “will not discourage the provision of financial services to lawful industries.”
But then came President Biden.
The Biden-Harris gang immediately went back to its old tricks, enacting Operation Chokepoint 2.0 against cryptocurrencies like Bitcoin.
The second Trump administration has again undone the Democrats’ damage.
Days after his inauguration, the 47th president singled out Bank of America CEO Brian Moynihan at the World Economic Forum in Davos. “I hope you start opening your bank to conservatives, because many conservatives complain that the banks are not allowing them to do business within the ban,” Trump told the banking exec.
Trump recently explained that Moynihan’s Bank of America refused an offer from Trump to “deposit a billion dollars-plus” in his bank—and that JPMorgan Chase turned him away after being their customer for 40 years.
That’s the same company that former Republican Senator and Kansas Governor Sam Brownback accused of debanking his nonprofit, the National Committee for Religious Freedom, in 2022—during the Biden administration.
Earlier this month, President Trump signed an executive order “Guaranteeing Fair Banking For All Americans,” which orders federal regulators to “remove the use of reputation risk or equivalent concepts that could result in politicized or unlawful debanking.” That cements moves already taken by the Federal Reserve Board and Trump officials at the Office of Comptroller of the Currency and the Federal Deposit Insurance Corporation.
House Republicans have kept up the pressure, toom, launching investigations into the Democrats’ unseemly financial tricks.
“The Biden Administration’s Operation Choke Point 2.0 was carried out by the prudential regulators to target and debank the digital asset ecosystem. The FDIC used offline conversations and threats of formal supervisory actions to pressure banks to deny service to digital asset firms, their employees, and even their customers,” said House Oversight and Investigations Subcommittee hearing, led by Subcommittee Chairman Rep. Dan Meuser, R-Penn. “This is a serious abuse of regulatory power.”
Senate Republican leaders have also pressed Jerome Powell, the Trump-hater who just opted to step down as Federal Reserve chairman, about why he continued the anti-crypto policies of the Biden administration months into the new administration.
The there’s still more to do to protect Americans—a lot more. A new report from the America First Policy Institute says that Congress has to make Trump’s executive orders and regulatory actions permanent law—by passing fair banking acts along the lines of a bipartisan bill introduced by Reps. Andy Barr, R-Ky., and Ritchie Torres, D-N.Y.
Of course, the Left has pushed back against the Trump administration’s efforts to assure fair treatment for all Americans. The New York Times ran an article in May stating, “No, You Don’t Actually Have a Right to a Bank Account.”
But businesses are getting the message. JPMorgan, Bank of America, CitiGroup and PNC Bank all officially said they will not take political or religious views into consideration.
We’ll be watching them. So will the Trump administration.