MRC Free Speech America Vice President Dan Schneider condemned the large financial institutions that were just exposed for not only debanking customers but also handing over customer info to a politicized “fishing expedition.”
In response to how banks treated former Trump Attorney John Eastman, Schneider suggested in a Thursday X post that Americans who wish to see their privacy and free speech rights respected turn away from complicit financial institutions.
“What separates @OldGloryBank from every one of the weak national banks targeted by Biden?” Schneider asked, before answering his own question: “1. Strong leadership 2. Uncompromising loyalty to its customers.”
“The Big Banks should have pushed back against the political subpoenas and then gone public with Biden admin's abuse and illegal searches. The CEOs of the Big Banks failed. This is why Old Glory Bank is the only bank for a free America,” Schneider added.
Eastman denounced the Biden-era FBI after Sen. Chuck Grassley (R-IA) released never-before-seen documents exposing the broad scope of the administration's targeting of political opponents under the "Arctic Frost" investigations. Eastman wrote that these revelations demonstrate that he was targeted under “unconstitutional ‘general warrants,’ a violation of the 4th Amendment.”
The former Trump attorney denounced the investigation as both “outrageous” and a “classic fishing expedition that could not possibly have been based on probable cause.” He added, “The people who did this need to be held accountable.”
To buttress his point, Eastman explained in his post, “Of the 16 subpoenas listing me by name, 7 were to banks or credit card companies such as Amex and TIAA with who I have never had accounts, one other (Wells Fargo) was with a bank I did not have an account with in 2020, and the remaining include the institution where the only account I have is my kids 529 education accounts.” Eastman went on to call on President Donald Trump, Attorney General Pam Bondi and FBI Director Kash Patel to punish the anti-free speech Biden officials responsible.
Bank of America and USAA debanked Eastman in 2023, the same year that the Biden administration issued subpoenas for his accounts. The same banks that are willing to debank targeted customers turned out to be willing to roll over and hand over customer information to a “fishing expedition.”
Previously, Eastman spoke to MRC Free Speech America, arguing that the banks ought to stand up to pressure to debank customers and should be held accountable for financial censorship.
Trump signed an executive order on Aug. 7 to investigate debanking, end federal practices contributing to it, and push financial institutions to restore debanked customers. This move contrasts sharply with the anti-free speech actions of former presidents Joe Biden and Barack Obama.
During “Operation Choke Point,” which began in 2013, Obama sought to debank entire industries, including the gun industry and the energy industry. In addition to presiding over the abuses of the “Arctic Frost” operation condemned by Eastman, the Biden administration also enabled financial censorship by blocking and working to eliminate a rule prohibiting political discrimination in banking, the Fair Access Rule. This move was just one of 57 Biden censorship initiatives that involved 90 government agencies.
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