There have been several stories about notable conservative public figures and conservative-leaning businesses getting de-banked, including President Trump, his family, and his attorneys. Robert Francis O'Rourke even wanted credit card companies to help him violate our Second Amendment rights by de-banking gun sellers.
The Obama Administration had Operation Choke Point, which targeted legal businesses the Obama administration simply didn't like, including those aforementioned gun stores.
President Trump called out Bank of America over the practice, and now he's got the entire de-banking scheme on his radar.
Which is why this story seems less like whistleblowing and more like some major CYA:
Here's more from Fox News Business:
In the wake of President Donald Trump's executive order outlawing debanking, major bank executives told Fox News Digital that they were under pressure by the Obama and Biden administrations to deny services to individuals and businesses for political reasons.
'Those pressures were very, very real. 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,' a senior banking executive told Fox News Digital.
Debanking refers to the practice of banks closing accounts or denying services to individuals or businesses, often with no explanation. The practice originated as part of federal anti-money laundering laws and regulations. An entity can be debanked after its transactions are marked suspicious, but in recent years, conservative and religious groups have accused banks of discriminating against them for their beliefs.
Fox News Digital spoke with two executives at leading U.S. banks, who asked to remain anonymous, fearing reprisals.
The executives said that ambiguity in federal laws was exploited by regulators under the Obama and Biden administrations in order to pursue political objectives. According to one executive, banks were pressured to deny services to certain industries as part of Operation Choke Point and Operation Choke Point 2.0.
'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 official said.
A House Oversight Committee report found that 'Operation Choke Point,' a DOJ task force whose aim was to 'choke out' legal companies disfavored by the Obama administration, worked with bank regulators to label certain industries, including firearms sales, as 'high risk.'
Those were two of the most corrupt administrations ever.
True.
Probably not.
Rotten to the core.
They were not. Average Americans were also targeted.
And then the President and Democrats in Congress throw you in prison.
It's an order.
Exactly.
Too long. And it must be stopped.
We absolutely remember that.
Congress needs to pass a law to make sure this doesn't happen to another person, ever again.