Bank of America blacklists Christian nonprofit for what appears to be political reasons
They’re coming for you next: Despite operating two different bank accounts without problems since 2015, Bank of America suddenly shut down the bank accounts of the Christian charitable non-profit Indigenous Advanced Ministries in April 2023, with the bank’s letters announcing the shut down [pdf] exceedingly vague but suggesting that politics played a part.
The initial letters gave no specific reason for the closures, only stating that “upon review of your account(s), we have determined you’re operating in a business type we have chosen not to service at Bank of America.” A later letter said, without explanation, that Indigenous Advance “no longer aligns with the bank’s risk tolerance.” The nonprofit does not advocate for any political causes and has maintained the same mission since it first opened its account with Bank of America.
Officials of the non-profit suspect hostility to its mission was the reason for the cancellations, however, and they have filed a consumer complaint [pdf] against Bank of America with Tennessee’s attorney general, demanding an investigation and noting that the sudden nature of the bank’s action caused a great deal of disruption and the non-profit.
» Read more
They’re coming for you next: Despite operating two different bank accounts without problems since 2015, Bank of America suddenly shut down the bank accounts of the Christian charitable non-profit Indigenous Advanced Ministries in April 2023, with the bank’s letters announcing the shut down [pdf] exceedingly vague but suggesting that politics played a part.
The initial letters gave no specific reason for the closures, only stating that “upon review of your account(s), we have determined you’re operating in a business type we have chosen not to service at Bank of America.” A later letter said, without explanation, that Indigenous Advance “no longer aligns with the bank’s risk tolerance.” The nonprofit does not advocate for any political causes and has maintained the same mission since it first opened its account with Bank of America.
Officials of the non-profit suspect hostility to its mission was the reason for the cancellations, however, and they have filed a consumer complaint [pdf] against Bank of America with Tennessee’s attorney general, demanding an investigation and noting that the sudden nature of the bank’s action caused a great deal of disruption and the non-profit.
» Read more