Feds Say Bank of America Targeted Conservatives
America’s biggest banks scrutinized conservative groups, religious organizations and lawful businesses over their supposed reputation risks. At Bank of America, federal investigators found more than $5 billion in suspicious transactions that went unreported for too long. Treasury’s October 13 enforcement action exposed serious failures involving potential money laundering, narcotics proceeds and national-security threats. The bank had plenty of rules. Investigators found it failed to enforce some of the ones that mattered most. A separate federal review documents how political controversy became grounds for restricting lawful customers. Together, the findings raise a question every American with a bank account should care about: who decides whether your beliefs make you too risky to serve? Access to your own money should never depend on the political climate or an activist group’s approval. Banks entrusted with policing financial crime owe customers a better explanation of their priorities.
