Bank of America Switches Tactics on Conservative‑Aligned Charities
What Happened?
- Policy Overhaul: BofA recently dropped a rule that had been causing banks to pull services from non‑profits tied to conservative religious groups.
- Widespread Impact: Thousands of charities and churches that had been unfairly cut off are now back in the fold.
- Why It Matters: The change addresses concerns that the previous rule was too blunt‑instrument, hitting legitimate community work.
Reactions From the Community
Many people feel relief that the bank’s actions are now more fair and precise.
- Talk of Trust: “Finally, we’re not worrying about our accounts getting flagged for nothing,” says a longtime charity manager.
- Ask for More Guidance: Some members urge BofA to offer clearer guidelines to prevent confusion in the future.
Looking Ahead
The bank is committed to ensuring that its policies are transparent and based on real risk, not assumptions. This move marks a step toward better serving all communities, regardless of their ideological leanings.
Bank of America Tightens the Rules on Account Closures
In a surprising move that comes straight out of the banking office, BofA decided to pull the plug on a clause that let them shut down an account just because a customer’s religious viewpoint was “unsuitable.” The decision, finalized in late June, aims to make clear that faith—whether it’s prayer or practice—is no reason to send an account off the rails.
Why the Change Happened
- Stakeholder feedback: A spectrum of voices—some cheering, some skeptical—told the bank it was time to tighten the script.
- Political pressure: Conservative activists and politicians have been keeping the bank on their nights out, pointing out that the old rule seemed a bit “politically flavored.”
- Corporate pride: BofA $offers services to about 120,000 non‑profits that lean on religious roots. “We’re proud of them,” the spokesperson reminded.
What’s New?
“Religious views are not a factor in any account closing decision,” the bank clarified. The language has been whittled down so that the only legit reasons to close an account are the usual ones—non‑payment, fraud, or compliance issues.
Trump vs. The Bank
Republican heads, notably President Trump, have been shouting about alleged “politically motivated” account terminations. A rumor in the Post claims that Trump’s account was shut down after his first term, supposedly at the behest of the Biden administration following the Jan. 6 chaos.
Bottom Line
Bank of America is sounding the alarm that it’s not up for political games. The new Code of Conduct keeps the spotlight on the hard facts, and it insists that faith, like any other personal belief, is a non‑factor in deciding whether an account gets a one‑way ticket.
Bank of America Finally Gives Up on “Religious Debanking” — Enough is Enough
What Changed and Why It Matters
The big news is that Bank of America has finally removed that jab‑taken “viewpoint” clause from its account‑closure playbook. The tweak came after a high‑profile protest led by Jerry Bowyer, a self‑described crusader for religious freedom in finance.
For years these banks were using a trick called “reputational risk.” Basically, if a client’s beliefs could “ruin” a bank’s shiny image, the bank would close their account. The problem? The line between protecting brand image and slipping into religious discrimination was fuzzy, and it caused headaches for churches, charities and a few other religious groups.
How the Battle Began
- In the summer of 2022, Jerry Bowyer noticed that Bank of America was closing an evangelical church’s account in Tennessee.
- The bank claimed the issue was linked to the church’s partnership with a debt‑collection firm in Uganda. The church insisted that the firm created jobs in a struggling region.
- Bowyer tried repeatedly to convince the bank to drop the policy that treated religious positions, especially opinions on same‑sex marriage, as hate speech.
- He kept failing—until the bank finally updated its language in 2023 (after JPMorgan Chase had already done it).
Bowyer’s “Better late than never” moment came when he finally learned the policy had been reversed. A simple headline, a couple of phone calls, and a new set of guidelines that align with the bank’s own “no political or religious snubbing” stance.
What the New Language Looks Like
The bank’s updated policy explicitly says:
- No more dumping customers just because they hold controversial religious views.
- It’s now a straight‑forward “no political or religious affiliation” filter, not a vague “not good for our image” filter.
- It follows a Trump‑era executive order that stopped financial institutions from denying service on loose political or ideological grounds.
The Ripple Effect
Some Trump‑aligned businesses—think crypto and other tech sectors—have faced account closures in recent years, proving that politically charged industries can still run into trouble even after policy shifts. This update is a win for folks who believe money should stay neutral toward faith, not a weapon of exclusion.
Bottom Line
Bank of America’s overhaul signals that banks are finally tired of the “religious debate” loophole. The move recognizes the difference between protecting a brand and protecting faith—worth celebrating for those who wanted a better balance.