Watchman:Banks Now Have the Ability to Close Your Accounts if You Purchase Firearms or Religious Texts, Thanks to New Tools Provided by the Government

By SRH, The United States is witnessing the implementation of a financial social credit system akin to Communist China’s, as the government exerts its influence by creating an Internet Iron Curtain.

Federal agencies have reportedly provided banks with tools to flag Americans who purchase Bibles or support immigration law enforcement as potential domestic terrorists. Jeremy Tedesco from Alliance Defending Freedom testified that financial institutions are being influenced to discriminate based on political and religious beliefs. State attorneys general have called out Wells Fargo for allegedly using de-banking as a political tool to enforce Biden Administration policies.

The attorney general wrote to BlackRock that Wells Fargo “has institutionalized discrimination by imposing race and sex-based quotas into credit agreements.” According to the letter, the bank is trying to restrict consumers from using cheap energy and raising grocery prices to meet Democratic economic central planning goals.

In conclusion, the US is developing a financial and social credit system like Communist China through government pressure that produced the Internet Iron Curtain. Tedesco claims that the FBI gave financial institutions a paper identifying “indicators of domestic violent extremism” in consumer purchases as opposition to “firearm legislation,” “the easing of immigration restrictions,” and COVID-19 lockdowns.

In previous hearings, Treasury Department representatives warned banks that buying religious texts like the Bible, endorsing former president Donald Trump, or shopping at sports goods stores could label law-abiding Americans as domestic terrorists.

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So, “major banks have attended meetings regarding misinformation and disinformation regarding the CISA Cybersecurity Advisory Committee.” One meeting was attended by JPMorgan Chase on March 21, 2022. Tedesco says 86 CISA considers “financial services” “critical infrastructure” threatened by “the spread of false and misleading information.”

The CISA agency of the Department of Homeland Security prohibited internet speech on elections for tens of millions of Americans because they considered their “thoughts, ideas, and beliefs” “critical infrastructure.” Federal employees call “malinformation” true information that requires approved talking points.

CISA was utilized as a “switchboard” during the 2020 election season to pressure social media companies to quiet Democrats’ critics. The Supreme Court is considering that conduct in Murthy v. Missouri.

Tedesco’s information shows how unconstitutional social media censorship monitors financial transactions. CISA says it uses a “whole-of-government approach.” to promote communist social credit. Tedesco believes that canceling or seizing American bank accounts, like Canada did to trucker demonstration supporters in 2022, is more damaging to American liberty than discreetly taking down Facebook and X accounts.

Tedesco told The Federalist in a Wednesday news conference, “We don’t know the extent to which AI is being used right now to make these decisions, but we know Congress is funding projects and supplying these AI tools to banks.” “We have the same issue with widespread censorship in the financial context as we do with social media.”

Tedesco describes multiple banks canceling Christian charity accounts without reason in his testimony. Last April, Bank of America closed the account of Tennessee-based Indigenous Advance Ministries, which helps Ugandan sex trafficking victims, convicts, and orphans. It closed the account of a charity that gave IAM money.

Tedesco’s account says “Indigenous Advance Ministries…had to tell its nine Ugandan employees to wait an extra week to receive a paycheck they depend on for survival.” These Ugandans, like many others, live meal to meal. Waiting a week for income in Uganda is uncomfortable and might mean famine.

The bank merely said the charity is “operating in a business type we have chosen not to service at Bank of America,” in answer to questioning. Chase debanked the charity National Committee for Religious Freedom, founded by former US Senator Sam Brownback, in 2022. Tedesco said Chase stated that “if NCRF disclosed a list of donors who contributed 10 percent or more of its operating budget and divulged the criteria it uses to decide whom to support politically,” the bank might restart the account.

Tedesco reports that thirteen ADF donors have reported that their banks and Fidelity Charitable, the largest donor-advised fund grantmaker, have blocked or delayed ADF donations since 2019. Leftist Southern Poverty Law Center calls ADF and other Christian charity “hate groups”. For this reason, Impact Assets, Fidelity Charitable, the Chicago Community Foundation, and the Community Foundation of Greater Memphis declined to accept American donations to ADF.

The Southern Poverty Law Center is a hate group and money-scammer that persistently persecutes Christians, whereas ADF has won 15 Supreme Court cases in 30 years. In 2012, a shooter opened fire on the Family Research Council’s “hate group.”

In a weaponization committee report issued Wednesday, Treasury officials submitted bank papers from the Institute for Strategic Dialogue and Anti-Defamation League defaming Christian organizations as “hate groups” and symbols like the Celtic cross as “hate symbols.”

ADF’s 2023 Viewpoint Diversity Score Business Index found that over half of large financial firms can refuse service to clients based on their political or religious beliefs. These “reputational risk” provisions sometimes include “hate speech” prohibitions that Soviet Communists added to international treaties after World War II. Banks utilize “reputational risk” policies to penalize consumers wrongly accused by media smear campaigns, regardless of the truth.

Tedesco told The Federalist Wednesday that “there is a real risk that these kinds of policies can be weaponized by third-party activists.” The payment processing sector often faces initiatives by outside activists to force processors to withhold service because they disagree with others. Activists should influence bank policies due to reputational risk.

JPMorgan Chase debanked the Arkansas Family Council because of its conservative views and hosting of Donald Trump Jr. and retired Lt. Gen. Michael Flynn. Wells Fargo incorrectly denied payment processing to the Christian charity The Ruth Institute because it was “affiliated with a product or service that promotes hate, violence, harassment, and/or abuse.” PayPal is notorious for rejecting Christians and conservatives.

According to Tedesco, “Unlike with social media, we have a chance to get ahead of this.” Both parties oppose banking prejudice, and social credit score in financial data is new. Source thefederalist

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